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Pre-Open Daily Tech View of Bank Nifty Spot for 02-11-2022 ahead of FED Nov Policy meet
Bank Nifty Higher opening at 41552 and then initially High made at 41677 but failed to sustain there & erased all morning gains in 2nd phase of session. Low printed at 41188 & finally settled at 41290, Day to Day basis lower closing by 18 points. It formed a bearish candle on the daily frame as Closing was lower than opening.
If you are an Intraday trader watch out for first 15 mins High and Low and could capture the trend of Bank Nifty today.
On the Up side :- It has to hold above 41250/200 levels & if it able to cross 41411 then momentum possible towards 41505--41650 and 41750 levels
On the downside :- immediate support is placed at 41200/41150 and if breaches then 41000-40900 & 40750
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Source : Eureka
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