Banknifty May 4th Week ViewNifty Bank IndexNSE:BANKNIFTYIshanMathur05Bank Nifty is looking neutral to positive on the weekly charts, but things can change quickly due to ongoing global conflicts and high oil prices. If the situation turns positive, we can expect Bank Nifty to rebound from its lows. A base level for the uptrend appears to be 54,403, and if Bank Nifty sustains above this level, momentum could continue up to 55,685–56,055. However, if things turn negative, the important support level would be 53,583. A sustained fall below this level could lead to further retracement up to 52,214+ . DISC: THIS IS MY PERSONAL VIEW AND NOT A BUY/SELL RECOMMENDATION. DO YOUR OWN RESEARCH BEFORE PLACING ANY TRADE. I AM NOT A SEBI REGISTERED ANALYST.