May 9, 2022May 9, 2022 0 Comments
Technical View on Nifty and Bank Nifty Analysis
- After opening gap-down by 190 points, a nifty bounce from the lower level of 16142 to 16403 but after the first half of trading nifty fell to 16231 led by negative start in Europe market and manage to close at 16300 level.
- Near term resistance-16400-16450
- Major resistance- 16500-16600
- Near term Support- 16150-16200
- Major Support- 15950-16000
- Bank Nifty traded in a narrow range and closed at 34275 with lower high- lower low formation in a 1-hour time frame. Bank nifty managed to close above 34000-34050 level which is a near-term support level.
- Immediate Resistance- 34650-34750
- Major Resistance-34900-35000