Pre-Open Daily Tech view of Bank Nifty Spot for 25-05-2022

By a Staff Reporter:  Yesterday Bank Nifty also gave a flat Opening at 34223, then moved upto 34586. But facing hurdle before 34600 & not reached upto main hurdle 34700 <20 dma > & major one 34800. Showing weak note & zig-zag fashion through out the day, low printed at 34115 & settled at 34290, relatively strong & positive closing up by 42 points and formed an another inverted hammer candle on the daily scale.

On the Upside:- It has to hold above 34050/33980 zones to build strength towards 34444-34666 and 34800 zone. Fresh bullish break only above that.

On the down side:- Support exists at 34050/33875. Fresh weakness below that and that to be extended upto 33660 level.

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Source : Eureka

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