Pre-open Daily Tech view of Nifty Spot for 01-06-2022

By a Staff Reporter:  Yesterday Turbulent month May ended. Month to month basis down -518 pts. Month started at 16924 then High was 17132, low printed at crucial support area 15735 and finally settled at 16584.

Yesterday lower Op at 16578 and initially low made at 16523. Taking support from 16500 during the day it showed recovery to hit a day's high of 16691 but failed to cross 16700 resistance. Selling pressure came in the last hour of trade. Day to day basis corrected 77 points after almost 800 points recovery from 15900 in the previous three straight sessions.

As closing & opening almost same at 16580, so it formed a Doji pattern with an Inside Bar candle on the daily charts. Inside Bar as the trading range was within the bullish candle of the previous session, indicating indecisiveness. Current range 16700-16500.

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Source : Eureka

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