Pre-open Daily Tech view of Nifty Spot for 26-05-2022

BY A STAFF REPORTER 

Asia-Pacific stocks rose in Thursday morning trade after U.S. Federal Reserve meeting minutes pointed to more rate hikes ahead. Here we should see a good move in the market. Expected Expiry based wide range in between 16222/285 (on the upside) & below 16000/15960 – 15900/840 (down side ).

Yesterday Nifty opened with a gap at 19196 but did not sustain above 16220/30 resistance zone (High 16223). After 1st half Green Trading it erased all the gain in the second half to close near the day's low.

Nifty Bulls somehow able to hold 16000 mark & closed at 16025. Day to Day basis Nifty was down 99.40 points or 0.62 percent. This was the 3rd consecutive lower top lower bottom formation & closed below technically crucial levels 16130 & 5 dma 16082. For today’s monthly expiry trading sessions these levels to be acted as initial barriers.

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Source : Eureka

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