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Pre-Open Daily Tech View of Nifty Spot for 25-10-2022
On the first day (Muhurat Day) of Samvat 2079 Nifty ended with a strong note above 17700.
Nifty was up 154 points or 0.88% at 17731. Muhurat session started with 160 points Gap at 17736 & within 1 hour of trading high printed at exactly our tentative hurdle 17777 & finally settled at 17731. As opening & closing almost same, so it has formed Doji candle on the daily charts indicating indecisiveness.
On the Upside :- As long as holds 17699 mark in coming sessions, then can move towards above 17738 17777—17808--17840
On the down side:- Below 17670 – 17625 & 17585 support area. Fresh negativity only below 17500 then closing basis major Gap support 17420/400.
Option data indicated that the expected trading range for coming sessions has been shifted higher to 17500-18000, from 17400-17800 levels earlier.
India VIX up by 0.82 percent to 17.42 levels, which needs to fall around 15-16 levels for more stability.
Pre-Open Daily Tech View of Bank Nifty Spot for 25-10-2022
Muhurat session started with 550 points Gap at 41348 & within 1 hour of trading high printed at 41427 & finally settled at 41305 up by 521 points or 1.3 percent.
It has also formed Doji kind of pattern on the daily charts, but continued making higher high higher low formation for second consecutive session.
If it sustains above the Gap Range Support 41000-41200 levels, then it can see a further upside towards 41800 and then as a break out 42500 levels in the very-near term.
On the Up side:- Intraday Resistances are :- 41418—41504—41555—41644 &
On the down side :- Intraday Supports are :- 41191—41105/41050—40966.
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Source : Eureka
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