Pre-Open Daily Tech view of Bank Nifty Spot for 26-09-2022
On Friday we have seen a mammoth fall in Bank Nifty. From 40500 to 39400, almost 1100 pts corrected in intraday only. The index formed a very big bearish candle on the daily scale.
Correction started after 5-9 bearish cross at 41000 mark as per daily chart & that to be more accelerated after breaching 20DSMA i.e. at 40200 & 39900 < mid point of the main range 42000-38000>. Weekly closed at 39546
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On the down side :-
Intra cum swing basis expected supports are – 39200—39000 & then 38775-38500.
On the Up side :-
Intra cum swing basis expected resistances are -39650—39888 & then 40000-40200.
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Source : Eureka
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