Pre-Open Daily Tech view of Bank Nifty Spot for 27-09-2022

BY A STAFF REPORTER

Yesterday Nifty Bank also corrected sharply, opening more than 400/500 points lower at 39028 and corrected up to 38492. It took support near 38500 level and closed with 930 points losses at 38616 honoring 50DSMA there. It formed a bearish candle on the daily charts, with lower high and lower low formation.

Pull-back rallies possible but any rally should be utilized to initiate fresh short positions at higher ends.

On the Upside :- The resistance levels are 38844—39066. Major 39300—39500.
On the Down side:- The Support are seen at below 38500—38200 at 38000 level.

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Source : Eureka

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