Pre-Open daily Trading view of Bank Nifty spot for 12.05.2022

By a Staff Reporter:  Yesterday Bank Nifty higher open at 34686 and then deep correction upto 34143 but in last leg of the session bounced vertically, recouped entire losses & crossed not only morning high but also previous day’s high 34781 & printed a new high 34793. Finally settled at 34693 with gains of 210 points & formed a long-legged Doji candle on the daily frame.

Current wide range in between 34150 to 34800.

We may see another volatile sessions & big move in next immediate trading sessions.

On the upside :-

For Swing basis fresh bullish move above 34800 & more above 1st Resistance 35000 for next journey towards 35150/300. Major 35500.

On the down side :-

Initial supports at 34600-34400. Bears will get active below 34300 for a move towards 34150. Fresh break down only below 34150 then 33950-33800 possible.

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Source : Eureka

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