CMP: 47781.95
Moving AVG (EMA) 20 Hour & 40 Hour: 47892 & 47893
Moving AVG (EMA) 20 Day & 40 Day: 48056 & 47884
Support & Downside Range: 47340—46980--46700
Resistance & Upside Range: 48335—48565--48710
Short Term Trend Reversal Level: -- 47340
Trading View Summary:
• Currently BANKNIFTY trading near very critical support levels which is 47340 spot levels.
• Today is going to be a DO OR DIE kind of situation for BANKNIFTY. Ideally in today's trading session BANKNIFTY must try to move towards minimum 48335 & try to close near or above it in minimum condition to take BANKNIFTY in a safe position.
• Whereas if BANKNIFTY fail to move towards 48335 & after opening if BANKNIFTY fail to hold 47340 spot levels than its sign that there is something wrong with the BANKNIFTY trend & in days to come BANKNIFTY can put pressure on MARKET. SO UNDERSTAND THE IMPORTANCE OF 47340 SPOT LEVELS AS SUPPORT