Pre-Open Daily Tech view of Bank Nifty Spot for 20.05.2022

By a Staff Reporter: Like Nifty, Bank Nifty also opened gap-down and traded lower for the most part of the session. It tested a low of 33180 and rebounded slightly to close 850 points lower at 33316.

It formed a bearish candle on the daily scale and negated the higher highs of the previous two sessions.

On the upside:-

Resistances are 33555—33666. Above 33700 major hurdle 33900-34040.

Now till it holds below 33700, weakness could be seen towards 33000 and even below that.

On the down side :-

Supports exist at 33180--33000 and then 32900-32666 zones.

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Source : Eureka

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