Banknifty to Open Gapup and thereafter follow selling pressure

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Bank Nifty Spot View: 06/12/2023
CMP: 47012.15
Moving AVG (EMA) 20 Hour & 40 Hour: 460801 & 46271
Moving AVG (EMA) 20 Day & 40 Day: 45097 & 44439
Support & Downside Range: 46660---46290---46000
Resistance & Upside Range: 47300—47700--47920
Short Term Trend Reversal Level: -- 43265--43230

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Trading View: In today's weekly expiry trading session key level to watch is 47300 rest after opening if 47300 manage to hold then we may see cooling off pull back in bank nifty for downside 46660 to 46290 and max 46000 spot levels whereas if 47300 manage to break and we get sustain above it for 15 to 30 mins then intraday move can gets extend more upside with over bought RSI and we may see 47700 minimum to 47920 max upside levels so understand the importance of 47300 rest on intraday basis and act accordingly.

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