Pre-Open Daily Tech View of Bank Nifty Spot for 18-11-2022

BY A STAFF REPORTER: 

Yesterday we have seen another sideways day with narrow range move suggesting big move will be seen either today or on Monday.

Negative opening at 42400 & moved in a narrow range of 250 points. It inched up during the day and made a new high of 42622 but gave up gains in the last hour to close 77 points down at 42458.

It formed a small-bodied candle, which resembled a Shooting Star pattern on the daily frame. It made higher lows for the fifth session.

On the Upside it has to hold 42350 to move towards 42750 and 43000 levels.

Intraday Trading Levels :- Positive above 42500 then Resistances are 42610, 42729 and 42850.

On the downside supports at 42200 and 42000 levels.

Intraday Trading Levels :- Negative below 42323 then Supports are 42222, 42085 and 41970.

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Source : Eureka

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