BANK NIFTY Analysis

• BN is testing the middle bollinger band or the 20 Day SMA. Closing below this level will be bearish and retest of the 200 and 50 SMA might happen again. Getting support here means another up move towards the recent high.
• Weekly chart shows price near 5 Week High EMA. Today being a weekly close its important for bulls to close above this level.
• Weekly chart with cloud shows a struggle between bulls and bears. For a bigger up move to happen week candle has to close and sustain above the weekly cloud.