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Banknifty view for 05/07/22
Nifty Bank Index
Banknifty view for 05/07/22
By TheMamboMomentum
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Jul 4, 2022
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Jul 4, 2022
Banknifty has formed a nice bullish candle and closing above its 20 DMA.
On hourly analysis the markets remained in a uptrend and closed above its 20 and 200 ema.
On 15 minute time frame, it took a nice support from its 20 ema and rallied 250 points from there.
Support:- 33700, 33950
Resistance:- 34350, 34625
The market can remain bullish as it has closed above its major resistance of 33700.
Wait for the price action near the levels before entering the markets.
BANKNIFTY
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Moving Averages
Multiple Time Frame Analysis
NIFTY
Support and Resistance
TheMamboMomentum
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