Banknifty will remain under pressure

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BANKNIFTY Spot View: 13/01/2025
CMP: 48734.15
Moving AVG (EMA) 20 Hour & 40 Hour: 49373 & 49810
Moving AVG (EMA) 20 Day & 40 Day: 50884 & 51339
Support & Downside Range: 48420—48300 zone, 47930--47540
Resistance & Upside Range: 49975--50450
Short Term Trend Reversal Level: -- 

Trading View Summary:
• For today's intraday trading session key level to watch is 49975 as resistance.
• As long as BANKNIFTY remains below this rest zone its trend remains sell on rise for minimum 48420 to 48300 and maximum 47930 to 47540 spot levels.
• Whereas after opening if 49975 breaks on sustain basis then trend turns sideways for remaining hours of the day.

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