NIFTY:
WEEK : Yesterday's Low of 5725 is supported at the weekly channel.
DAY: Nifty resisted at 100 DMA and fell to the channel Support:
NIFTY if supported by the channel would attempt a bounce. If channel breaks and also the previous low breaks, then the next major support would be 200 DMA near 5600 levels.
BANK NIFTY:
Yesterday's low 11416 is supported by Weekly Trendline. A huge Rising Wedge is in the making in weekly charts.
The Neckline of the H&S pattern of Bank Nifty is not broken. If supported -(based on the week charts) then the pull back would be swift.
So supports can be expected from this levels in both Nifty and Bank Nifty.
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