Pre-Open Daily Tech view of Bank Nifty Spot for 02-03-2023

BY A STAFF REPORTER

Yesterday as a continuation of Day before yesterday’s last hour bullish momentum Gap up opening at 40474 < almost 200 points up > with low initially printed at 40341 then uptrend continued through out the session & high made at 40725 & finally settled at 40698. Day to day basis up +429 points or 1%.



The index formed a bullish candle on the daily charts, making higher highs and higher lows for the second consecutive session.



Intraday Trading Levels:- On the Upside :- Resistances are above 40745 //40800 -- 40888- 40975 . & Major 41050-41250.



On the Down side :- Negative below 40640 then supports are 40510, 40440. Expected Lower Edge of Expiry : 40440 & then Swing based major 40343 and 40270.



Therefore it may move towards 41000 with support 40400. Bullish reversal was indicated & supported by momentum indicator RSI’s positive momentum.



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Source : Eureka

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