Banknifty view for 06/05/22.
Bank Nifty on the daily and weekly time frame has taken a resistance from 200 and 20 ema respectively.
On hourly analysis, market has taken support from its 200 ema and has closed between the two moving averages.
The market has closed below it moving averages on 15 minute time frame and has filled the gap.
Support :- 35200, 35000
Resistance :- 35300, 35455
There is bearish candle on a weekly closing and there is a serious resistance of 20 ema on the same time frame.
Wait for the price action near the levels before entering the markets.
On hourly analysis, market has taken support from its 200 ema and has closed between the two moving averages.
The market has closed below it moving averages on 15 minute time frame and has filled the gap.
Support :- 35200, 35000
Resistance :- 35300, 35455
There is bearish candle on a weekly closing and there is a serious resistance of 20 ema on the same time frame.
Wait for the price action near the levels before entering the markets.
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