Will Banknifty Scale New Heights? Trading Guide for 28 May

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BANKNIFTY Spot View: 28/05/2024
CMP: 49281.80
Moving AVG (EMA) 20 Hour & 40 Hour: 49051 & 48708
Moving AVG (EMA) 20 Day & 40 Day: 48298 & 48036
Support & Downside Range: 49055—48830---48565
Resistance & Upside Range: 49670--50000
Short Term Trend Reversal Level: -- 47340

Trading View Summary:
•  In today's intraday trading session key level to watch is 49050 support.
•  As long as 49050 spot is holding BANKNIFTY can immediate moves upside towards 49670 to 50000 spot levels.
•  Whereas after opening if 49050 breaks than we see small pullback move towards 48830 spot levels.
•  #NOTE: BANKNIFTY still has lot to catchup ideally BANKNIFTY should not let nifty to fall much till the time it does not catchup the rally of NIFTY

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