Pre-Open Daily Tech view of Nifty & Bank Nifty Spot for 25-11-2022

​Pre-Open Daily Tech view of Nifty & Bank Nifty Spot for 25-11-2022

Record Highest Closing on the monthly F&O expiry day amid Green Global cues, falling Oil prices & US dollar index , Dovish FOMC Minutes and side by side decline in volatility.

Nifty rose 217 points to 18484 and formed a long bullish engulfing candle on the daily charts making a higher high higher low for the second consecutive session.

It was an attempt of bullish break out from last 2-3 weeks range bound move in between 18150 to 18450 & basically it was index based high weightage stocks rally but still the broader markets underperformed though technically there was a breakout of a long downward sloping resistance trend line adjoining 19-10-21 and 16-11-2022 indicates possibility of more upside journey .

On the upside any sustainability above 18400 in coming sessions can push the index beyond the 18600 -18700 mark. On the other hand, below 18400 the uptrend would be vulnerable with crucial support at 18200 and 18000 levels.

India VIX fell by 4% to 13.48 levels, giving more comfort to bulls and may be helping the index make a good start to the December series..

Yesterday Bank Nifty opened with more than 100 points gain at 42838 & crossed crucial psychological barrier 43000 mark , hitting a new record high 43163 gave the highest-ever closing with gains of 346 points at 43075.

It has formed a bullish candle on the daily frame and has been making higher highs - higher lows from the last three straight sessions. Now it has to hold above the 43000 mark to move towards 43500 - 43750 levels, with supports at 42750 - 42500 levels.

For Opening DP and Trading Account online, please visit

https://kyc.eurekasecurities.net/home/index/729

#sharemarket #financialmarket #opentrading #opendemataccount #opendemat #sharemarket #insurance #insurancebroker #insurancebroker #trading #Buyback #IPO #mutualfundinvestments

#SIP #investment #mutualfunds #mutualfundinvesting #sharemarket #stockmarket #investing #mutualfundsindia #equity #debt #hybrid #money #growth #wealth #trading #finance #investor #savings #wealth

Exclusive for ANM News Viewers - ANM's Financial & Insurance Related News - To join our group please visit https://www.facebook.com/groups/668263891032421

Source : Eureka

Please register at https://kyc.eurekasecurities.net/home/index/729 for opening Trading and Demat Account.