Pre-Open Daily Tech view of Bank Nifty Spot for 05-12-2022

Bank Nifty closed at 43103. Day to day basis though down by -156 points but candle was green as CL>OP (42976). On Friday Bank Nifty opened below 43000 mark at 42976 & remained in a range of about 200 points with scissors edges in between 5DSMA 43133 & 9DSMA 42990. It formed a small bullish candle on the daily frame.

On the downside immediate support at 42880 & then major 42750.

On the Upside immediate resistances at 43200 & then 43335.

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