Pre-Open Daily Tech view of Nifty Spot_07.04.2022

By a staff reporter:

Yesterday, Nifty after Gap down Opening < GAP inbetween around 17920-17900 – day’s High> & then low printed at 17779 & settled at 17798 corrected by Day to Day basis -149 points. Nifty formed small bodied bearish candle with minor upper shadow on the daily charts.

This is the 2nd consecutive negative closing after hitting the recent high 18114. Global cues weak amid hawkish Fed comments, new Russia sanctions & 10-year U.S. Treasury yield surging. FIIs were in sell mode. Further new Covid variant OMICRON XE also has detected in UK. Traders eye on 8th RBI Credit Policy here.

17700 <+/-> is the level to watch. As long as the index holds its crucial support of 17700, it can bounce back to the recent highs. Current weakness may be an opportunity to create longs.

Option Data wide basis indicates the range 17500-18200.

India VIX closed at 19.02 up 2.89%, but still below crucial 20 mark.

For Opening DP and Trading account, Mutual Fund Investments and Two/Four Wheeler Insurance Renewal, please contact 9836000699

#sharemarket #financialmarket #opentrading #opendemataccount #opendemat #sharemarket #insurance #insurancebroker #insurancebroker #trading #Buyback #IPO #mutualfunds #mutualfundinvestment

Exclusive for ANM News Viewers - ANM's Financial & Insurance Related News - To join our group please visit https://www.facebook.com/groups/668263891032421

Source : Eureka

Please register at https://kyc.eurekasecurities.net/home/index/729 for opening Trading and Demat Account.