Banknifty looks weaker than nifty and has been trading near its 20 ema on weekly time frame and has formed a bearish candlestick.
On daily time frame, it has closed below its 20 and 200 ema, which looks bearish. The EMA's are trading close to each other on daily, 60 minutes and 15 minutes time frame.
Support :- 35940, 35600, 35355
Resistance :- 36200,36380,36660
Bank nifty is quite bearish and can remain weak as it has closed below the 0.382 fib levels.
Market can be volatile and confusing.
Wait for market to test the levels and make a trade only after confirmation with price action.
On daily time frame, it has closed below its 20 and 200 ema, which looks bearish. The EMA's are trading close to each other on daily, 60 minutes and 15 minutes time frame.
Support :- 35940, 35600, 35355
Resistance :- 36200,36380,36660
Bank nifty is quite bearish and can remain weak as it has closed below the 0.382 fib levels.
Market can be volatile and confusing.
Wait for market to test the levels and make a trade only after confirmation with price action.
