Bank nifty as predicted was on the down side. Still a bear market prevails on the higher time frame.
Market opened gap down and traded while day inside the first hourly candle. The immediate support level is around 32760-90 where market took support and sustained above it.
In the second half Banknifty traded in a 200 point range and closed near the support.
Support:- 32760, 32450
Resistance:- 33025, 33210, 33440.
The global cues are negative, wait for new investments.
Wait for the price action near the levels before entering the markets.
Market opened gap down and traded while day inside the first hourly candle. The immediate support level is around 32760-90 where market took support and sustained above it.
In the second half Banknifty traded in a 200 point range and closed near the support.
Support:- 32760, 32450
Resistance:- 33025, 33210, 33440.
The global cues are negative, wait for new investments.
Wait for the price action near the levels before entering the markets.
