Bank Nifty Analysis for Monday ( Multi time frame Analysis)

May 11

Bank Nifty is trading below Monthly and Weekly CPR , We have to look in Hourly timeframe if candles are getting resistance from 20 and 50 Sma and weekly cpr , that we can easily find from 5 min chart candles if candles are taking resistance from 200 sma and R1 in 5 min timeframe we can say that hourly Sma are proving resistance and we can expect prices to go down , but if candles able to sustain above 5 min R1 and 200 Sma then it means hourly Sma are proving support and we can expect prices to go up