Pre-open Daily Tech view of Nifty Spot for 07.02.2022

Pre-open Daily Tech view of Nifty Spot for 07.02.2022

Maharashtra Public Holiday: Stock Exchanges to function as usual on February 7.

Monetary Policy Committee's meeting rescheduled to February 8-10

Last Friday Nifty Spot Op: 17590 High :- 17617 Low : 17462 & closed 17516.

Day To Day basis down -44 points. 2nd consecutive bearish closing but Nifty managed to close above crucial 17450/430 – 50dma support , should hold by bulls. Strength will resume only after crossing 17620. Expectation to test 17700-17800 further. Otherwise further negativity.

Higher chance of Nifty moving below 17450/430 levels. A sustainable move only above 17800 levels could negate this bearish pattern.

Source : Eureka

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