Pre-Open Daily Tech view of Bank Nifty Spot for 09-06-2022

BY A STAFF REPORTER 

Yesterday Bank Nifty gave a positive opening at 35166 and moved in the upward direction for the first half of the session to hit a day's high of 35450 but drifted lower in the latter part. It corrected upto 34832 & settled at 34946, down by day to day basis 50 points. It formed a bearish candle on the daily scale with a longer upper shadow indicating selling pressure visible at higher zones.

As it has formed double bottom pattern at days low 34830-800 range so as long as holds we can see a move but 5 dma hurdle at 35255. More strength only above that & then 35500-600 possible.

Down side if breaches 34800 then 20dma support 34660 & followed by 34500/400.

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Source : Eureka

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