Nifty Bank Nifty Updates

Yesterday Nifty made a low of 5725 and Bank Nifty a Low of 11416. Is this a support area or is it likely to breakdown?? Lets see what charts depict!!

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:

HOUR: A Bullish Bat pattern is almost completed. If 5725 low breaks, then more downsides to 5700 - 5650

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.