Pre-Open Tech Analysis_13.01.2022

Aniruddha Chakraborty
13 Jan 2022
Pre-Open Tech Analysis_13.01.2022

By a Staff Reporter:  Yesterday Nifty jumped another 156 points & settled above our another tentative land mark 18200, actually at 18212. Nifty formed another green candle on the daily charts.

Uptrend is maintaining -Nifty closed above 18200 with a Gap and in 4 consecutive days rose more than 500 points from 17700 to 18200. The bullish gap of the day present between 18128 – 18081 levels.

To sustain the uptrend the primary condition is to hold this gap support.

New year confidence boosted up and almost 1000 points surged basically due to following reasons:-

Severity of Omicron Variant seems to low, FIIs turn net buyer and main focus of our domestic market mainly on the upcoming quarterly results - Strong Earnings Expected and Mega Union Budget.

Intraday basis narrow range move just 100 points <18128 to 18228>. Usually such moves with narrow intraday trading ranges will make the index remain vulnerable for a sudden fall, so traders should cautious for intra day profit taking at every upper hurdles or initially tests another coming barrier 18350-400.

Source : Eureka

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