Today Banknifty behaved how it behaves on the normal weekly expiry, where option writers control the moves. It made the top of 19757 and low of 19332. So 19800 levels are acting as stiff resistance while 19300 is good support. It is closing below important Banknifty gann no of 19700 for the last 3 days.
The hourly chart shows that trendlines are still acting as strong resistance. I also plotted MACD Histogram in the form of a line (blue color line). It continuously showing a negative divergence.
The daily chart formed a Doji candle. Similarly, the MACD Histogram line is showing negative divergence. But prices are still holding 18700 levels. Break of 18700 will confirm the start of down-move. So let's wait and watch.
The hourly chart shows that trendlines are still acting as strong resistance. I also plotted MACD Histogram in the form of a line (blue color line). It continuously showing a negative divergence.
The daily chart formed a Doji candle. Similarly, the MACD Histogram line is showing negative divergence. But prices are still holding 18700 levels. Break of 18700 will confirm the start of down-move. So let's wait and watch.
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