Weekly Tech view of Bank Nifty Spot for 24-10-22 & onwards.

Last Friday Bank Nifty opened with 270 points Gap @ 40370 and intraday basis gain extended upto 41032 & closed at 40784.Rallied 1.71% or 685 points and Daily basis formed a bullish candle.

Weekly basis up almost 1500 points or 3.8%. It formed a very big bullish candle formation indicating the uptrend may continue in the coming session towards 41333—41750—42000 & above subject to cross 41030.

On the down side current support at 40400/250 <5DSMA >. To maintain the uptrend should hold these supports. Fresh negativity only below 39800 i.e. strong support.

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