Banknifty view for 01/07/22
Banknifty on a monthly candle has closed below its 20 ema and has fallen 5.8% on month to month.
Still Banknifty couldn’t close above its 20DMA.
On 15 minute time frame, there is a bearish moving average crossover and the market took a nice resistance from its 20ema.
Support:- 33210, 33370,
Resistance:- 33480, 33520, 33750
There is no clear trend for market on day to day analysis.
Wait for the price action near the levels before entering the markets.
Still Banknifty couldn’t close above its 20DMA.
On 15 minute time frame, there is a bearish moving average crossover and the market took a nice resistance from its 20ema.
Support:- 33210, 33370,
Resistance:- 33480, 33520, 33750
There is no clear trend for market on day to day analysis.
Wait for the price action near the levels before entering the markets.
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Penafian
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