Pre-Open Daily tech view of Bank Nifty spot for 16-02-2023

BY A STAFF REPORTER

Yesterday slight Higher opening at 41675 but moved in 41750-41450 range & before closing 83 points higher at 41731. This index is relatively underperformed but gave its highest closing since January 24.

The index formed a small Hammer pattern with a long lower shadow on the daily scale, which suggests buying at support zones 41450 & 41550 levels though it’s main range is currently 41200—41900.

Now it has to continue to hold above 41450 & crosses above 41850/900 to make an up move towards 42000 and 42250 levels, while on the downside, support is expected at 41450 & then 41250/200 levels.

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Source : Eureka

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