Pre-Open Daily Tech View of Nifty Spot for 20-07-2022

Yesterday Nifty started with a lower Opening. Opening Low was 16187.

Then through out the day maintaining the uptrend. High printed at 16359 & closed at 16340.

Day to Day basis up 62 points, formed an another bullish engulfing candle & which was the 3 rd consecutive higher high Higher bottom formation.

On the Up side :-

Above 16360 –16416 & then 16470. Major 16525. That to be a vital cautious area & lot of supply may come from there. If breaches then only 16586.

On the Down side :-

Below 16295 -16260/230. These should hold to maintain the upward journey. Otherwise below that 16188. Major 16148/123. Break down support 16060.

Roughly speaking Closed above 16250 waiting for 16500+.

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Source : Eureka

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