Banknifty 29 Jan 2025

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BANKNIFTY Spot View: 29/01/2025
CMP: 48866.85
Moving AVG (EMA) 20 Hour & 40 Hour: 48663 & 48657
Moving AVG (EMA) 20 Day & 40 Day: 49300 & 50124
Support & Downside Range: 47840--47700—47400--47000
Resistance & Upside Range: 49425—49700--50390
Short Term Trend Reversal Level: --

Trading View Summary:
•  For today's intraday trading session key level to watch is 47840 is support to watch.
•  After opening if BANKNIFTY manage to hold 47840 spot levels on sustain basis and closing basis then ahead of BUDGET we may get upside bounce move towards 49700 and above levels.
•  Whereas after opening if BANKNIFTY breaks 47840 on sustain basis and closing basis then ongoing selling remains continue and we may fall downside towards 47700 and below levels.
•  so understand the importance of 47840 support.

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