Pre-open Daily Tech view of Bank Nifty Spot for 06.06.2022

By a staff reporter-
Last Friday opened 300 points higher at 35930 but failed to cross 36000 and corrected heavily throughout the day & low made at 35175, that was the weekly low too. Finally settled at 35275.
Daily basis negative -338 points. It formed a Bearish Engulfing candle on daily charts

As per daily chart pattern short term basis Indicator showing bearish crossover signal, quite alarming in nature.
Good support & next lower slab 35000—34550. Weakness may persists as long as stays below 5 dma 35555-600.

Intraday basis Trading levels are :-

Resistances :- 35333– 35555 –35700—35875

Supports :- 35035—34850—34733—34550.

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Source : Eureka

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