Banknifty view for 07/05/22

Bank Nifty has taken a support from its 200DMA and has closed above its resistance of 35300.

On an hourly time frame the market has closed between the 20 and 200 ema and a clear trend is still not decided.

The moving averages are close enough on 15 minute time frame and last candle has closed below both the moving averages.

Support :- 35300, 35200, 35000
Resistance :- 35455, 35500

Wait for the price action near the levels before entering the markets.