Banking Sector has most Secular Growth - Banknifty Analysed

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BANKNIFTY Spot View: 07/10/2024
CMP: 51462.05
Moving AVG (EMA) 20 Hour & 40 Hour: 52111 & 52569
Moving AVG (EMA) 20 Day & 40 Day: 52573 & 52101
Support & Downside Range: 51300—50950--50350
Resistance & Upside Range: 51800—52100--52525
Short Term Trend Reversal Level: --

Trading View Summary:
•  For today's intraday trading session key level to watch is 51300 as support.
•  After opening if 51300 manage to hold then we may immediate see short covering move towards minimum 51800 to 52100 levels.
•  Whereas after opening if 51300 breaks on 30 mins to 1hr sustain basis then we may see more downside pullback towards 50950 and below levels.

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