Pre-open Daily Tech view of Nifty Spot for 19.04.2022

Pre-open Daily Tech view of Nifty Spot for 19.04.2022

Yesterday after a long truncated week 1st day of the week started with a lower opening & a massive GAP in between 17450 (below 20 DMA) to 17180 ( near 200 DMA). Nifty Spot remained under pressure throughout the session & intraday basis corrected upto 17067 but in the last hour the index gave a bit of recovery and managed to defend the 200-day simple moving average (around 17170). Finally after making high at 17237 It settled at 17173, Day to Day basis down -302 points, or 1.73%.

 It is a 4th consecutive down trend forming a Doji candlestick on the daily charts which indicates indecisiveness. In this process, it not only tested its 200-day SMA but also move closer to psychological support present around the 17000 levels.

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Source : Eureka

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