Bank Nifty Spot Weekly Tech view_ 21.03.2022

Bank Nifty Spot Weekly Tech view_ 21.03.2022

Last week Bank Nifty bounced almost 2000 points from 34600 to 36600, settled at 36428. W to w basis up +1882 points or +5.44%. This is the 1st trend changing week after consecutive 5 weeks lower top – lower bottom formation. As per chart, the index formed a strong bullish candle on the weekly frame.

Important upside & down side levels against the fall from Recent Top 39425 to recent bottom 32155 are as per closing 36428 :--

On the Upside :- 36660/750 ---37000 & then extended basis 37300 & Major 37870

On the down side :- 36250/060 -- 35800 < S2> < that should hold >. If breaches then 35550 .

& then extended basis 34935 & 33875 .

Another Gap up opening is expected either at /above 36660/750 subject to maintaining immediate support 36060 or 35800 for 37000-37300.

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Source : Eureka

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