Pre-Open Daily Tech view of Bank Nifty Spot for 28-10-2022

BY A STAFF REPORTER: 

Last Day like Nifty Bank Nifty also opened with a gap more than 300 points at 41441 and immediate basis High printed at 41512. But failed to hold 41500 further & after that it wiped out some gains. It corrected upto 41178 & settled the session at 41299 up by 176 points day to day basis and formed a bearish candle on the daily charts.

On the Upside immediate hurdle is seen at 41500 and if breaches & stays above that then by further short covering the rally may move towards 41670 – 41800 & major 42000 levels. Fresh positivity above that.

On the Down side initial support at 41200 & then followed by 41100 & major 40950 < 5 DSMA & 5 DEMA Cluster support > to 40800. Fresh weakness below that.

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Source : Eureka

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