Banknifty view for 18/05/22.
Bank nifty after initial gap up continued the rally and closed just near the resistance.
On 15 minute time frame, market has closed above the 20 ema and RSI indicator is in the over bought zone.
The market has rallied and formed a bullish candle on daily chart.
Support :- 34100(zone), 33765
Resistance :- 34375, 34750
Market can remain in a zone for tomorrow after a big rally.
Wait for the price action and volume confirmation before entering the markets.
On 15 minute time frame, market has closed above the 20 ema and RSI indicator is in the over bought zone.
The market has rallied and formed a bullish candle on daily chart.
Support :- 34100(zone), 33765
Resistance :- 34375, 34750
Market can remain in a zone for tomorrow after a big rally.
Wait for the price action and volume confirmation before entering the markets.
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