Banknifty will provide cues for Market Direction : So focus on it in wake of Iran Israel War

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BANKNIFTY Spot View: 16/06/2025
CMP: 55527.35
Moving AVG (EMA) 20 Hour & 40 Hour: 55954 & 56098
Moving AVG (EMA) 20 Day & 40 Day: 55720 & 54881
Support & Downside Range: 55150—54850--54300
Resistance & Upside Range: 57100
Short Term Trend Reversal Level: --

Trading View Summary:
•  For today's intraday trading session key level to watch is 55150 which is Friday's low. After opening if this support manage to hold then BANKNIFTY may try to find stability and with positive close it can move higher towards recent ATH and above levels in days to come.
•  Whereas after opening if 55150 breaks then selling pressure may increase and we may see 54850 to 54300 spot levels.

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