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Banknifty view for 18/05/22.

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Moving Averages Support and Resistance Multiple Time Frame Analysis BANKNIFTY bankniftytrend bankniftytradesetup bankniftyanalysis bankniftytrading bankniftyview bankniftyoptions bankniftyintradaylevels nifty50
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movingaverage supportandresistance mtfa banknifty bankniftytrend bankniftytradesetup bankniftyanalysis bankniftytrading bankniftyview bankniftyoptions bankniftyintradaylevels nifty50
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.

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