Daily Tech view of Nifty Spot for 08.04.2022 3rd consecutive basis negative closing. Day to Day basis down -168 points & settled at 17640. Bearish corrective mode closed below 17700 filled up the Gap ahead of Crucial Monetary Policy Meeting today.
Though formed a 3rd bearish candle but currently trading near the important retracement support level. Nifty has corrected over 475 points in last 3 days & one leg of correction was completed, chances of fresh recovery or quick relief rally possible.
On The Upside:- Immediate basis above 17692 & 17730 1st crucial Resistance at 17777. Extended basis major 17850-17888. Swing basis very cautious barriers are 17950—18100 & positionally fresh bullish break out only above that.
On the Down side :- immediate basis Supports are 17620 & then crucial 17577-550, should hold that & further bouncing possible from lower ends. But if breaches then extended lower Supports are 17500 & very major 17450 to 17400.
For Opening DP and Trading account, Mutual Fund Investments and Two/Four Wheeler Insurance Renewal, please contact 9836000699
/ )
/anm-english/media/post_banners/khm2Raqk0IMmJGnipWfo.jpg)
/anm-english/media/agency_attachments/AtBG5e3MoE629QYzhZen.png)