Pre Open Daily cum Swing Trading ideas of Bank Nifty Spot for 12-08-2022

By a Staff Reporter 

Yesterday Bank Nifty also started with a gap up opening at 38713. Low printed at 38648 and after maintaining a range bound move around 300 points High printed at 38932 & finally settled at 38880. Day to day basis rose 592 points and formed a bullish candlestick pattern on the daily charts maintaining higher highs for the third straight session and after previous day’s Doji. 

500 points Gap support 38155 -38650 should act as support range & now 38400 immediate support on the down side. The upside resistance is placed at 39000 and if the same gets breached on a closing basis then we will see further upside towards 39425+ level.

*Intraday basis* :-

On the down side Supports are :- 38820—38707—38537—38425.

On the Upside resistances are :- 38991 – 39103 -39275—39400.

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Source : Eureka

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