Banknifty view for 26/05/22

Bank nifty has been facing a clear rejection from its resistance level of 34800.

The market has been taking resistance from its 20 ema on daily time frame and support from its 20 ema on 4 hour time frame.

The market has been taking support from its 200 ema on 15 minute time frame.

Support :- 34135, 33970
Resistance :- 34376, 34780

The market has dropped from its gap up opening.

Wait for the price action near the levels. Look for the 15 minute candle to close below the 34300.


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