Banknifty on the daily time frame has given a dragon fly doji and still showing some confusion. It has closed near the 20 ema but above the 0.618 fib level.
The indice is forming a cup and handle formation, on the hourly time frame, giving close above both the moving averages.
The market has given a W-pattern but has closed near the resistance level.
Support :- 42450, 42230 Resistance :- 42880-900, 43100
The market took a heavy sell off in the morning after touching 42900 levels and closed near the same levels.
Wait for the price action near the price level before entering the markets.