BANK NIFTY analysis

• Bank Nifty has good resistance at 11150 levels as shown in the first chart.
• Closing above this level will favor the bulls to take prices higher.
• Price has violated the descending channel which is an encouraging sign for the bulls. But if the resistances are not taken out on time we may see price retesting the broken line before moving up again. 
• Bank nifty daily chart is showing a death cross (50 dma below 200 dma) which is a bearish pattern. But this cross takes place after significant correction, So a rally cannot be ruled out from here.
• Things will favor bears only if price continue to remain below 50 and 200 dma's.