Banknifty daily analysis for 14/02/23.
Banknifty has given a negative candle but still the market is holding the support levels of 41250.
The market has been facing resistance from the 20 ema and if it crosses today's low, it can test the round number of 41000.
On the hourly charts, the market has formed a bearish flag and pole. The market in the initial hour gave a fall and consolidated whole day in a narrow range. The market has closed below both the moving averages.
The market has is showing some negativity and if it continues the trend, it can test lower levels.
On the 15 minute charts, the market has formed a bearish moving averages cross over.
support :- 41240, 41000, 40840
Resistance :- 41380, 41680
Wait for the price action near the levels before entering the markets.
The market has been facing resistance from the 20 ema and if it crosses today's low, it can test the round number of 41000.
On the hourly charts, the market has formed a bearish flag and pole. The market in the initial hour gave a fall and consolidated whole day in a narrow range. The market has closed below both the moving averages.
The market has is showing some negativity and if it continues the trend, it can test lower levels.
On the 15 minute charts, the market has formed a bearish moving averages cross over.
support :- 41240, 41000, 40840
Resistance :- 41380, 41680
Wait for the price action near the levels before entering the markets.
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