Pre-open Daily Tech view of Bank Nifty spot for 06-10-2022

BY A STAFF REPORTER 

Bank Nifty opened 670 points higher at 38700 and closed near the day’s high <39177> at 39110, up 1080 points. It formed a strong bullish candle with a Gap.



On the Upside :-

Closing just above crucial 50DSMA i.e. at 39000 & it has to hold above 38888 levels to move up further.

Above 39230 expectation to fill the Gap hurdle 39400 & breach the major hurdle 39600 then it can move towards next phase of upper slabs 40000 & above.



On the down side:- supports are placed at 38600 and 38300 <5DSMA> levels.



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