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

Bank Nifty relatively strong closing Daily as well as weekly basis taking 5-9 dma support at 43300/350 mark. Bank Nifty printed all time highest closing at 43633. Day to Day basis up 36 points. Friday all time high also printed at 43853 then corrected almost 500 points upto 43350 & in last leg recouped maximum losses & closed at 43633.

On the down side below 43575 Supports are 43500—43387- 43333 & 43200.

On the Upside above 43850 Resistances are in uncharted territory 43990-44100—44200.

1st signal of short term basis weakness if closes below 42850-42750 otherwise focus on dips.

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Source : Eureka

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