Pre Open Daily Trading ideas of Bank Nifty Spot for 11-08-2022

BY A STAFF REPORTER: 

Bank Nifty yesterday gave a volatile session with a narrow range movements. Marginally higher opening at around 38300 then hit an intraday high of 38403 and a low printed at 38155. Finally Closed at 38288~, Up 0.13% or +50 pts.

It formed Doji pattern on the daily chart, indicating indecisiveness among bulls and bears about the future trend.

Gap up opening is highly expected amid Green Global cues.

On the upside:- Above 38408—Resistances :- 38530—38656—38777.

On the downside :- Immediate support for Bank Nifty are below 38155 - 38038/37888 <5-9 mov>. Fresh negativity only below that then 37650-37500 major as 13 DSMA.

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Source : Eureka

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