Trading Guide for Banknifty today

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BANKNIFTY Spot View: 04/03/2025
CMP: 48114.30
Moving AVG (EMA) 20 Hour & 40 Hour: 48331 & 48540
Moving AVG (EMA) 20 Day & 40 Day: 49047 & 49473
Support & Downside Range: 47870—47420—47300 zone, 46200
Resistance & Upside Range: 48630--48800--49350
Short Term Trend Reversal Level: --

Trading View Summary:
•  In yesterday's trading session BANKNIFTY so far posted another bottom near its previous swing low which is 47870 spot levels.
•  For today's intraday trading session key level to watch is 47420—47300 spot levels if this support zone manage to hold then consider that BANKNIFTY is near to complete its correction or it has already completed.
•  Whereas if 47420—47300 fail to hold then BANKNIFTY can give more deeper correction towards 46200 spot levels as part of extension.
•  so understand the importance of 47420—47300 spot levels here on daily closing basis.

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