17 march 25 Banknifty analysis

 As the previous day data,the Banknifty index is closed at 48,047, 0.41% higher than previous day.

Technical indicators-

      •RSI - Rsi at 45.43, which shows neutral.

      •Stochastic Oscillator- this indicate at 99.51,         showing overbought condition.

      •EMA- The index is trading below key Ema, 3 buy signals and 9 sell signals, showing strong bearish signals.


Support and Resistance level-

    • Support- latest support is from  47872 to 47800

    • Resistance- latest resistance is from 48180 to 48200


Conclusion-

     The banknifty index is showing neutral momentum with key support 47800 and Resistance at 48200. Trader should be cautious for lack of momentum.

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