Pre-Open daily Tech view of Bank Nifty Spot for 18-08-2022

BY A STAFF REPORTER

Yesterday Bank Nifty started with a Gap up note at 39351 up by 110 points. Keeping low at 39200 maintained the upmove, high 39504 and closed at 39462. It formed a small-bodied bullish candle on the daily scale with a longer lower shadow. It formed higher highs for the sixth session.

Swing basis, it has to hold above 39250/200 <3dsma> for an up move towards 39750 and even 40000, while supports are at 39200 and 39000 <5dsma>.

R:- 39500—39612 - 39727—39800.
S :- 39310—39200—39124—39009.

Supports are :- below 17900 – 17863—17833 & major 17764 – 17725.

As per Option data immediate range 17700-18100, while the broader range could be 17500-18300.

India VIX was down 0.04% at 17.68 levels, Lower volatility is giving comfort to the market.

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Source : Eureka

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