Bank nifty view for 02/05/22.
Banknifty on monthly analysis has formed a spinning top kind of a candle and market are still in confusion.
The market has been volatile and can remain the same as trend is yet to be decided.
On a daily time frame, it has closed below its 20 and 200 ema and has been trading in a range.
Support :- 36000, 35750
Resistance :- 36200, 36580
The market can still remain in a sideways mode and its better to just watch the market
Wait for a price action confirmation near the levels for entry.
The market has been volatile and can remain the same as trend is yet to be decided.
On a daily time frame, it has closed below its 20 and 200 ema and has been trading in a range.
Support :- 36000, 35750
Resistance :- 36200, 36580
The market can still remain in a sideways mode and its better to just watch the market
Wait for a price action confirmation near the levels for entry.
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