Pre-Open Daily Tech view of Bank Nifty Spot for 17-11-2022
17/11/2022 07:54:06 AM Poulami Das 351
BY A STAFF REPORTER
Yesterday Bank Nifty Closed at 42535. Day to day basis up by 163 points. Formed a Bullish candle supported by 3DSMA @ 42300. 42150—42080 down side crucial supports. To maintain the up trend should not break these 2 supports. If breaches then fresh negativity 41900/860 possible.
Bank Nifty Intra Day basis Trading area :- 42630 [upside]—42300 [down side]
Cautious /Negative on rally if fails to cross 42630 otherwise on the upside Positive trending move towards 42730-42830/42888.
On the down side :- Intraday basis initially negative below 42430 then supports are 42350/300 & then 42222-- 42150/42080. Either 42222 or 42100+/- these are 2 important support areas as intraday basis. If not breaches then chances of bouncing possible from there.