Banknifty daily analysis for 28/10/22
Banknifty on the daily time frame has given an inside candle and after the gap up there was a sell off.
Even on the expiry day, banknifty consolidated in the second half of the trading session.
The market has tested the 41350 level many times and has closed above 41300 level and 20 ema on 15 minute time frame.
November session has begun and till now in October month index has given almost 7% return.
Support :- 41270, 41190, 41120
Resistance :- 41350, 41410, 41540
The market has given a retracement and on the higher levels index is struggling to carry on for the up movement.
Wait for the price action near the levels before entering the levels.
Even on the expiry day, banknifty consolidated in the second half of the trading session.
The market has tested the 41350 level many times and has closed above 41300 level and 20 ema on 15 minute time frame.
November session has begun and till now in October month index has given almost 7% return.
Support :- 41270, 41190, 41120
Resistance :- 41350, 41410, 41540
The market has given a retracement and on the higher levels index is struggling to carry on for the up movement.
Wait for the price action near the levels before entering the levels.
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