Pre-open Tech View of Nifty Spot for 24.12.2021 & onwards

By a Staff Reporter:  Yesterday Nifty gave a Gap up opening at 17066 but through out the expiry day maintained a narrow range momentum of 100 points <17015 to 17118> as a 3rd consecutive higher opening sustaining above 50% retracement level 17015 against the previous fall from 17640 to 16410 maintaining the Gap.

Nifty Finally settled at 17072 and formed a small Doji kind of pattern on the daily charts indicates indecisiveness in between range 17170/200 < on the upside immediate hurdle> & 17020/16970 < on the down side immediate support>.

Asia cues Mild positive.

Though expectation is positive opening but still traders should cautious around/before higher ends 17170-17200 for at least 1st time.

Intraday Levels Nifty Spot last cl 17072:-

Positive above 17068 Resistances :- 17122—17150/17170 & major 17200/225

Support :- 17020—16965 & major 16916.

Bank Nifty Spot last cl :- 35191

Positive above 35250 – Resistances are :- 35430--35500 & then 35666

Below 34999 – Supports are :- 34807 & 34570.

Swing basis major range 36000-34000.

Source : Eureka

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