Pre-Open Daily Tech view of Bank Nifty Spot for 01-02-2023

BY A STAFF REPORTER 

Yesterday Bank Nifty started with a positive note at 40564 and moved upto 40811 but failed to sustain above 40800. Low printed at 40167 negating its lower lows of the last three sessions and closed 268 points higher at 40655.



The banking index formed a small-bodied Bullish candle on the daily scale with longer lower shadows, which indicates buying at lower zones.



On the up side :- Bank Nifty has to hold above 40500 to make an up move towards 40770--41000 and 41250. Major 41500.

On the down side:- supports are placed at 40250 - 40000 & 39800 levels.



Extended basis expected wild range 41600/900 – 39400/38750.



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Source : Eureka

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