Pre-Open Daily Tech view of Bank Nifty Spot for 24-05-2022

BY A STAFF REPORTER

Yesterday Bank Nifty Opened at 34321, then in the first half moved upto 34819.95. After a false break out like Nifty above tentative hurdle 34800 <20dma> but failed to stay there. After Fizzling out & slipped from there in 2nd half gave a complete corrective mode & settled at 34247 (Low 34117), down by 28 points and formed an inverted hammer candle on the daily scale.

On the Upside:- It has to hold above 34060-34000 zones to build strength towards 34444-34650 and 34733-820 zone. Fresh bullish break only above that.

On the down side:- Support exists at 33970—33666. Fresh weakness below that and that to be extended upto 33500/250 & 33000 level.

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Source : Eureka

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