Banknifty daily analysis for 15/11/22

Banknifty on the daily time frame has formed an inside candle and consolidated whole day.

The market for 2 days has traded in the range of 42000-42200 and a nice trending market can be seen.

On 15 minute time frame, the market has traded around 20 ema and closed near the level.

Banknifty has closed almost flat around 42100 level.

Support :- 42050, 42000, 41700
Resistance :- 42230, 42340

The markets are volatile and took support from 42000 level.

Wait for the price action near the levels before entering the markets.