Pre-open Daily Tech view of Nifty Spot_ 18.04.2022

Pre-open Daily Tech view of Nifty Spot_ 18.04.2022

Coming week big move will be seen as market will react to Infosys and HDFC BANK earnings.

Nifty fell 55 points to 17476 and formed bearish candles on the daily charts.

In last trading session (Wednesday) initial basis false bullish attempt to fill the falling Gap 17650-17600 but whipsawed before 17666 and wiped out all the day’s gains in the afternoon to close in the red. Day to day basis down -55 points. As per daily chart supported by 20DMA at 17450 in the last two trading sessions.

In case lower opening below last closing 17475 & specially below 17450-17400 then below 17400 -- 17333-17286 should act as strong support and in case of bouncing 17576 act as Strong Resistance.

Bulls need hold 17333-17286 for a move towards 17576 after further crossing 17450/400.

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Source : Eureka

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