Pre-Open Daily Tech view of Nifty spot for 30-05-2022

Last Friday Nifty ended the week above 16300 at 16352.

Day to day basis rose +182 points.

This was the first day of June series & second consecutive session of bullish recovery.

Though Nifty formed a small bullish candle with a Gap up opening but chart showing Hanging Man kind of pattern. But that to be negated if crosses 16370 & sustains above that.

Expectation of another Gap up opening even after crossing the crucial barrier 16400 mark supported by green global cues but question of sustainability at higher ends.

 Last 2 days bullish recovery to be confirmed if Nifty decisively breaks & closing basis stays above 16470+ (immediate resistance) subject to hold initially 16270-250 range.

Short term positive expectation in the sense last Friday Nifty crossed & closed above the crucial 20dma 16277.

India Vix:- The volatility cooled down further to 21.48 levels, declining 5.44% which also supported bulls on Friday.

On the Up side :- Intraday basis resistances are :- Above 16414 – 16444—16470/490. Then major swing hurdle 16555. Traders should cautious at higher.

On the down side :- Intraday basis supports are 16277—16249—16221. Major support 16177-130 range.

Please contact the below telephone nos for trading.

+91 98312 00699 / 82749 09974

Please download mobile trading app using below link

https://play.google.com/store/apps/details?id=com.eurekasec.eutrade

#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.