Banknifty daily analysis for 05/07/23.
Banknifty has formed a perfect doji on the daily time frame and has closed 150 points higher.
On the hourly time frame, the market was volatile in the second half.
A single hour candle tested 45650 levels and closed around 45300 levels.
On 15 minutes charts, market closed below the 20 EMA in the morning hour but came back proving it a fake down. And finally has closed below the moving average .
Support :- 45020, 44780
Resistance :- 45360
Wait for the price action near the levels before entering the trade.
On the hourly time frame, the market was volatile in the second half.
A single hour candle tested 45650 levels and closed around 45300 levels.
On 15 minutes charts, market closed below the 20 EMA in the morning hour but came back proving it a fake down. And finally has closed below the moving average .
Support :- 45020, 44780
Resistance :- 45360
Wait for the price action near the levels before entering the trade.
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