Pre-Open daily Tech View of Bank Nifty Spot for 06-09-2022

BY A STAFF REPORTER

Yesterday after almost flat opening at 39412 and that was day’s almost low 39407, maintaining 39400 as a support advanced gradually through out the day, high printed at 39865 & settled at 39805 as a break out closing above previous top 39759.

 

Day to day basis it gave 385 points higher closing after last Friday’s Doji type of indecisive candle and formed a bullish candle on the daily charts.



On the upside :- 39800/40000 may act as initial barrier. If surpasses smoothly then we may see another 1000+ points strong move towards 41000/41100 possible.

Above 39900 – Resistances are 40040—40250 & 40490.



On the down side:- Immediate support 39550—39400. To maintain the up trend should not break the 5DSMA 39250/200. Short term weakness only below that then 38888 = 20DSMA crucial support.



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Source : Eureka

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