Banknifty closed below earlier support & taken Trendline support so wait for Breakout or rejections at zones Bullish > 46400 Bearish< 46900 All views for Educational Purpose do your own analysis before initiate trades.
Nifty has created a gap and in second half consolidated above 16600. Market were strong and remained in green the whole day. On 15 minute analysis, it has respected the support of 20 ema. Support :- 16600, 16480 Resistance :- 16700, 16800 Market has been given a nice movement initially even after the gap up. Wait and watch the price action near the levels...
Strong fundmental stock and its preparing for a rally as banknifty has not made a new high.