Pre-Open Daily Tech view of Nifty spot for 23—11-2022

​Pre-Open Daily Tech view of Nifty spot for 23—11-2022

New Zealand delivers its biggest rate hike ever; Asia-Pacific stocks mixed ahead of Fed minutes today night. Dow rallied nearly 400 points. Here expectation of positive opening as a continuation of yesterday’s last hour bouncing amid green Global cues.

Yesterday Nifty rose 84 points to 18244 and formed a bullish candle on the daily charts after taking support at 18111 = 20DSMA. This was the 1st Green candle means Cl>> Op after 3 days consecutive corrections.

If Nifty Holds 18100 & able to cross 18250/300 hurdles then chances are there to move towards recent high 18450 levels and if crosses that then the door will open to test & cross all time high 18600 mark.

On the Upper side resistances are :- 18266 & 18293, after crossing that major as intraday basis 18333-18371. Cautious area 18400/450.

On the down side supports are :- 18214 & below that 18167-18137 & 18111.

As per the options data, the Nifty is expected to trade in the 18000-18400 range.

India VIX was down 6.45% to 13.84, cooled further extending support more favourable for bulls.

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Source : Eureka

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