Weekly
Indecisive candles from the past two weeks.
Still holding the gap created in 4 April week.
Candles LL LH structure
Immediate support at 36430
Might move towards immediate support
Resistance at 37750- 38000
Daily chart
13 April 2022 Price Action - Opened gap up, did not sustain, closed near its low.
( Strong opening - weak closing)
Previous Price action: 5 April- Similar Price action - (gap up, and closed near lows) followed by a gap down Candle, and then consolidating within that candle's range.
Hourly
Prices created resistance around 37720- 37900.
Support at 36430- 36530
Conclusion - All the time frame levels are in aligment , hence we might see Banknifty trading in the range of 38000- 36400 in the next trading sessions.
Indecisive candles from the past two weeks.
Still holding the gap created in 4 April week.
Candles LL LH structure
Immediate support at 36430
Might move towards immediate support
Resistance at 37750- 38000
Daily chart
13 April 2022 Price Action - Opened gap up, did not sustain, closed near its low.
( Strong opening - weak closing)
Previous Price action: 5 April- Similar Price action - (gap up, and closed near lows) followed by a gap down Candle, and then consolidating within that candle's range.
Hourly
Prices created resistance around 37720- 37900.
Support at 36430- 36530
Conclusion - All the time frame levels are in aligment , hence we might see Banknifty trading in the range of 38000- 36400 in the next trading sessions.
