*Pre-open Tech view of Nifty & Bank Nifty Spot for 22.02.2022*

BY A STAFF REPORTER

Geo-Political Tension further escalate. Global cues mostly are in Red. 

Yesterday Nifty closed at 17206 - 69.65 pts down D to D basis.

Nifty has formed DOJI pattern with lot of volatility during intraday trading. Current Range 17450 to 17050 with negative bias.

This was the 4th consecutive narrow range movements with lower top & lower bottom but chances are developing to come out from this trading move to trending directional move. 

After such movements still there is no clear confirmation of forming bottom formation & reversal taking support around 17100-17070 mark. If breaches & sustains below that then further weakness from here could open & down side next target will be 16850/800 in the near term. Immediate resistance is shifted from 17450 to 17350.

Source : Eureka

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Source : Eureka

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