Banknifty daily analysis for 12/09/23.
Nifty has formed a new ATH high and banknifty is around its ATH.
There can be a halt in the market has it has given a nice one side move and has travelled from 44400 to 45500 without a retest.
It has given a nice bullish candle and giving close 414 points higher.
On the hourly charts, it has showed a bullish movement and it trading way far from the moving averages.
The markets consolidated during the mid trading hours and gave a breakout and closed above 45500 levels.
Support :- 45440, 45230
Resistance :- 45680, 45855
Wait for the price action near the levels before entering the market.
There can be a halt in the market has it has given a nice one side move and has travelled from 44400 to 45500 without a retest.
It has given a nice bullish candle and giving close 414 points higher.
On the hourly charts, it has showed a bullish movement and it trading way far from the moving averages.
The markets consolidated during the mid trading hours and gave a breakout and closed above 45500 levels.
Support :- 45440, 45230
Resistance :- 45680, 45855
Wait for the price action near the levels before entering the market.
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