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Banknifty view for 12/05/22

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 NIFTY bankniftytradesetup bankniftyanalysis bankniftytrading bankniftyview bankniftyoptions
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movingaverage supportandresistance mtfa banknifty bankniftytrend nifty bankniftytradesetup bankniftyanalysis bankniftytrading bankniftyview bankniftyoptions
Bank nifty has again closed in green despite the other index was in red.

It has formed a long tail bullish candle on daily basis.

It has closed above its 20 ema on hourly and 15 minute time frame which indicates some bullishness.

Support:- 34400, 34100
Resistance :- 34720, 35000

The market has closed below its near resistance of 34720.

So wait for price action and double confirmation before trading the markets.

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