BANK NIFTY Chart analysis

 

 

• Bank Nifty daily chart is trying to move up after forming a Hammer Candlestick pattern. But price has to cross 5 Day High EMA and 20 Day SMA on closing basis for a bigger up move to happen. Unable to cross these levels may lead to weakness.
• Weekly chart is trying to form  a base, Here price has to move above the weekly cloud soon to avoid a bigger fall. 
• Weekly stochastic is looking good, Price has to make a Higher Close for a bullish cross on stochastic to happen. Reversal is yet to confirm for this setup.