Yesterday Bank Nifty started the session with a higher opening above 36000 at 36026 and traded higher for a major part of the session to hit a day's high of 36332. But facing strong 200DSMA barrier at 36400 slipped from there & below 36000 touched double bottom area at 35887. Finally settled at 36201, up by 229 points and formed a bullish candle on the daily charts.
This was the 4th consecutive Higher top Higher bottom formation & in 5 trading sessions surged 1868 points & in this way of rally It has crossed 200DEMA at 35400 & now trying to cross 36400/500 range i.e. 200DSMA area < current resistance >.
On the upside :- Above 36250 Resistances are 36323-36444/500 & 36666.
On the down side :- Below 36101 Supports are 35948--35850 & then 35750. Swing based very major 35550-35400.
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