BANKNIFTY FOR COMING WEEK - 19 Dec to 23 Dec 2022

1. Monthly Timeframe
Bullish - Charts are in great shape
Bullish Candle closed near highs- November 2022
Made new high this month( Dec 2022)
Monthly Support @ 38300-39100
Good as long, as the price sustains above support levels :)

2. Weekly Timeframe
Shooting star candle is on an all-time high.
Weakness is expected in the coming week.
Swing Trades - Sell on Rise.
Support @ 40300- 40800.
Volatility may increase.
Expecting both side swings.
Week high would act as resistance - 44151.

3. Daily Timeframe
Gap Down indecisive candle at support
Might see Gap up or gap down opening on Monday
Immediate support at 42940-43100
Further support at 42200- 42450

4. Hourly Timeframe
Sell-off, followed by a pause near the support area.
Selling - Near Resistance or below support
Precise levels for swing and intraday traders
Immediate resistance at 43500
Further resistance at 43884- 43893

Disclaimer: Only for educational purpose