Banknifty daily analysis for 13/10/23.
Banknifty on the daily time frame has formed an inside candle. It has closed above the 20 ema on the daily charts.
On the hourly charts, the market has remained in the first hour candle and closed just between both the moving averages and the moving averages are close enough.
The market has consolidated whole day and closed only 82 points higher killing option buyers.
There is a sideway cycle in the market and there are less opportunity for the option buyers.
On 15 minutes charts, the market has closed between both the moving averages and has closed around the 20 ema.
Support :- 44450, 44340
Resistance :- 44740, 44970
Wait for the price action near the levels before entering the market.
On the hourly charts, the market has remained in the first hour candle and closed just between both the moving averages and the moving averages are close enough.
The market has consolidated whole day and closed only 82 points higher killing option buyers.
There is a sideway cycle in the market and there are less opportunity for the option buyers.
On 15 minutes charts, the market has closed between both the moving averages and has closed around the 20 ema.
Support :- 44450, 44340
Resistance :- 44740, 44970
Wait for the price action near the levels before entering the market.
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