Pre-Open Daily Tech view of Nifty Spot for 09-11-2022 & onwards

​Pre-Open Daily Tech view of Nifty Spot for 09-11-2022 & onwards

Week started with Gap up opening at 18211 & initially High printed at 18255 but failed to sustain above 18200. Corrected upto 18065 & then from support area smartly rebounded in last two hours of trade amid volatility and positive Global cues. Nifty closed at 18203 up by +86 points or 0.47% & this was the highest closing level since 17TH January’22.

Daily basis though Nifty formed a Doji candle with long lower shadow indicating indecisiveness & caution for long but strong close taking 5 dma support at 18120. After 1 day Holiday if any sustainable move above the high of Doji at 18255 levels or any Gap up opening will negate the cautious approach.

On the Upside Intraday basis Resistances are :- 18255--18280—18325. Major 18365.

If crosses then bulls expectation to move towards 18475-18555 as a swing basis.

On the Downside Intraday basis supports are :- Below 18180-18117—18065. Major 18018.

If breaches then possible lower supports are 17970—17925 & 17850 as a swing basis.

India VIX fell 0.44 percent to 15.59 levels, making the trend favourable for the bulls.