BANKNIFTY INTRADAY SUPPORT & RESISTANCE LEVELS FOR [27-05-2022]

BANKNIFTY

on 26-may bank, nifty managed to break and closed above the heavy resistance of 34800- 35000 and it has closed at 35100.
if this breakout is sustained above 35000 then a reversal in trend is signalled and a new bullish trend will start.
A test of the breakout zone is needed to validate the new uptrend.

Caution- nifty and bank nifty and not moving in alignment with each other there is a big divergence and this can be a thing to worry about cause nifty is not able to break out from its resistance of 16400, this may pull the bank nifty again in range.

bank nifty analysis important levels are marked on the chart.
please always trade with stop loss to avoid big drawdown.

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Happy trading & keep learning