Pre-Open daily Tech View of Bank Nifty Spot for 07-12-2022 -RBI MONETARY POLICY Impact on it

BY A STAFF REPORTER 



Bank Nifty, too, started lower at 43094 and remained under pressure throughout the session to hit the day's low of 43076. Ended at 43139, down 194 points and formed a Doji pattern on the daily charts ahead of the RBI policy decision. The Doji pattern indicates indecisiveness among bulls and bears.



The undertone remains bullish and if it holds long positions, the level of 42800 & 42666 should act as a strict support. A break above 43500 will trigger a sharp short covering move towards 44200-44500 levels.



Intraday cum swing Trading Levels:-

Positive above 43222 then Resistances 43306, 43396 and 43484

Negative below 43023 then supports 42935/880, 42800 and major 42666.



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Source : Eureka

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