Pre-open Daily Tech view of Bank Nifty spot for 17.05.2022

The Bank Nifty opened at 33256. It closed 1.44% or 476 points higher at 33597.

Bank Nifty formed a positive candle formation with in a range between 33000/32900 to 33900/34000.
It’s running 5 dma around 33860-33900. Swing basis strength will resume only above that.

On the upside :-
R :- 33750 & then break out R 33860-33900. Crucial resistance around 34000.
Fresh strength only above that then 34260-34440.





On the down side :-
S:- 33444 & 33333.
Fresh break down only below that then major support 33120-33000.

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Source : Eureka

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