Pre-Open Daily Tech view of Bank Nifty Spot for 15-11-2022

Yesterday Bank Nifty started the session with 40 points higher opening at 42177 and rose to 42231 but mild gain erased corrected upto 41965. After last day’s Doji candle narrow range consolidation with small insider bar candle supported by 41900, finally settled at 42077, down by -60 points. It formed a bearish candle on the daily chart

The level of 41950--41850 will be crucial support on the down side (3 & 5 dma).

Positive above 42091/122 then move towards 42232, 42345 and then 42500.

Negative below 41948 for move towards 41840 & then only 41700 and 41600.

The lower-end support is visible at 41500 which will act as a line of defence for the bulls, whereas the higher-end resistance is at 42500. Undertone bullish & strategy should be buy-on-dips.

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Source : Eureka

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