Pre-Open Daily Tech view of Bank Nifty spot for 30-05-2022

Bank Nifty rose 518 points or 1.5% to close at 35613 on Friday.

Bank Nifty relatively gave a stronger move than Nifty. Fast advancement in last 2 trading session after crossing 2 hurdles 34450 & 34850. Bullish surging basically supported by 5 & 20 dma bullish crossover in daily chart at 34555. These will act as swing based major supports for coming sessions. As long as holds 34800 basically the benchmark is in positive territory & strategy is buy on dips.

On the upside :- Intraday basis Resistances are :- 35777—35888—35968. Major 36060.

Traders should Cautious at higher ends.

On the down side :- Intraday basis supports are :- 35400-35200 & 35000. Major 34850.

Better bullish focus on dips.

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Source : Eureka

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