Banknifty Trading Tip for 08 Jan 2025

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BANKNIFTY Spot View: 08/01/2025
CMP: 50202.15
Moving AVG (EMA) 20 Hour & 40 Hour: 50479 & 50732
Moving AVG (EMA) 20 Day & 40 Day: 51377 & 51662
Support & Downside Range: 49600—49500 Zone, 48300
Resistance & Upside Range: 50510—50750--51050
Short Term Trend Reversal Level: -- 

Trading View Summary:
• For today's intraday trading session key level to watch is 50510 as resistance.
• After opening if 50510 manage to hold then we may immediate moves lower towards 49500 and lower levels.
• Whereas after opening if 50510 breaks on 30 mins to 1hr sustain basis then trend turns sideways for remaining hours of the day & we may see 50750—51050 levels.

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