Pre-Open Daily Tech view of Bank Nifty Spot for 27-07-2022

BY A STAFF REPORTER: 

Yesterday Bank Nifty started the 2nd day of the week with a mild lower opening at 36688 with almost same High printed at 36695 but failing to cross above 36700 corrected almost 400 points from there, low printed at 36334 & finally closed at 36408 i.e. exactly 200DSMA & 5DSMA juncture point. Day to Day basis down -318 points.

It formed a Bearish candle on daily scale and also there was Evening Star kind of pattern formation on the daily charts that is generally known for trend reversal.

On the down side weakness may extend towards 36250 and 36000 levels, whereas hurdles are placed at 36666 and 36750 levels.

Intraday levels are :-

R:- 36520—36600 & then 36666—36750.

S:- 36270—36150 & then 36060—35900.

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Source : Eureka

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