Pre-Open Daily Tech view of Bank Nifty Spot for 06-07-2022

BY A STAFF REPORTER: 

Yesterday Bank Nifty also gave a same momentum & same formation like Nifty. The index closed 125 points lower at 33816. It formed a bearish candlestick on the daily chart.

It opened above 34000 mark and rallied upto 34361 but fizzled out failing to cross 50dma there. Selling pressure in the later part dragged the index down to 33757 & finally settled at 33816.

On the up side :- 34150 could be initial resistance followed by 34400/500 range.

On the down side :- Crucial supports are placed at 33600 followed by 33333 levels.

As a broader sense trend channel break out if only crosses & stays above 34600 & down side fresh break down if breaches 33000 mark further.

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Source : Eureka

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