Banknifty Spot Trading Plan for 30 May 2024

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BANKNIFTY Spot View: 30/05/2024
CMP: 48501.35
Moving AVG (EMA) 20 Hour & 40 Hour: 48839 & 48787
Moving AVG (EMA) 20 Day & 40 Day: 48390 & 48110
Support & Downside Range: 48390, 48260—48200 Zone, 47900
Resistance & Upside Range: 48750—48850 Zone, 49045--49250
Short Term Trend Reversal Level: -- 47340

Trading View Summary:
•  In today's trading session key level to watch is 48390—48200 support zone.
•  On the way up 48750—48850 is the key resistance to watch move above 48750—48850 will trigger a short covering move towards 49045 to 49250 spot levels. 
•  Whereas if BANKNIFTY fail to hold 48390—48200 then we may see deeper pullback towards 47900 spot levels.

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