Banknifty : Supreme King of all Indices

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BANKNIFTY Spot View: 02/08/2024
CMP: 51564
Moving AVG (EMA) 20 Hour & 40 Hour: 51584 & 51557
Moving AVG (EMA) 20 Day & 40 Day: 51734 & 51318
Support & Downside Range: 51265--51000--50438--49600
Resistance & Upside Range: 51955—52331--52600
Short Term Trend Reversal Level: -- 50438

Trading View Summary:
•  In today's intraday trading session key level to watch is 51265 as support.
•  After opening if 51265 manage to hold then we may immediate moves upside towards 51955 above levels. 
•  Whereas after opening if 51265 breaks then trend turns sideways and bank nifty may try to retest 51000 to 50438 spot levels.

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