Pre-Open Daily Tech view of Bank Nifty Spot for 13-03-2023

On Friday like Nifty Bank Nifty also opened with a very big gap down mode near around 450 points at 40805 from 41256 and then remained under pressure for major part of the session. Range was 40600—40400. Day’s low was 40341 & closed at 40485. Day to Day basis down -771 pts -1.87% & formed a Bearish candle.

Now till it holds below 40900/41000 the weakness could be seen towards 40650/500 & 40350 further. Then only major 40270-40100<200DEMA>. Very major expected down side supports 39770 & 39530<200DSMA>.

On the upside Pivot Level & Max pain @ 40500/40555. Above that next resistances are intra day basis 40650-40770. Major 40850/40900<20DSMA>. Very Major cautious hurdle 41000-41100.

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Source : Eureka

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