Pre-open Tech view of Nifty & Bank Nifty Spot for 14.06.2022

BY A STAFF REPORTER

Nifty prices opened with a huge gap down at 15877 level and settled at 15774.4 level after having tested a three months low of 15684 level. Now, the trend is negative but hovering near key support of 15670 level which may act as good support level. If prices breach 15670 level then prices may move lower to 15630, 15580, 15540, 15490 and 15440 levels. If nifty close below 15670 level then we may expect a downward moves to 15440 and 15000 level in coming weeks.

On the other hand, 15890 is acting as immediate resistance which may act as selling opportunity. If prices sustain above the said level then we may expect some short covering which may lead prices higher to 15945, 15995, 16050 and 16111 levels respectively.

Bank nifty prices witnessed of a sharp declined on first day of the week and slumped over 1050 points, settled at 33405.85 level after having tested a low of 33210.35 level.

For Monday, the bias is still negative and the trend is also negative which may take prices lower to immediate support of 33105 level. A break of the said level may witness of some more down side which may take prices lower to 32888, 32666 and 32155 level. In a broader outlook, a daily close below 33100 may take prices lower to 32155 and 30400 level in near-term future.

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Source : Eureka

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