Banknifty view for 17/08/22
Banknifty on the daily chart has formed a doji. The markets have stretched and a retest is pending.
Market on the hourly time frame has respected the level of 39600.
On the 15 minute time frame analysis, bank nifty has formed a LL-LH formation and on the intraday level could cross the previous high
The market can be volatile.
Support :- 39050, 39000, 38800
Resistance :- 39270, 39360, 39500
Wait for the price action near the levels before entering the markets.
Market on the hourly time frame has respected the level of 39600.
On the 15 minute time frame analysis, bank nifty has formed a LL-LH formation and on the intraday level could cross the previous high
The market can be volatile.
Support :- 39050, 39000, 38800
Resistance :- 39270, 39360, 39500
Wait for the price action near the levels before entering the markets.
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