Pre-Open Daily Tech view of Nifty & Bank Nifty Spot for 30-12-2022

BY A STAFF REPORTER: Today Weekly/Monthly/Quarterly & Yearly closing & opening not only will be higher but also for a Bullish start for 2023 Price need to close above 18400/450 mark & minimum above trend change hurdle 18350.

As expectation Opening was lower & Low printed at 17992. In 1st half of the session took support at 18000 mark <5DSMA> & then gradually moved up. In last leg massive surging specially after crossing 9DSMA 18150 & high printed at 18230~. Finally Nifty Spot on Dec’22, clearing Day closed at 18191. Day to day basis up by 68 points or 0.38%. It formed a Bullish Engulfing outside Bar candle & this was the 4th consecutive positive candle.



18250 <50DSMA> is the immediate basis primary hurdle. As expected opening positive that should open above 18250 mark but question is stable or not. On the upside if stable above 18180 then chances are there to cross 18250 & finally may cross 18333 to test 18444.



Intraday Trading Levels:-

Positive above 18250 then Resistances are 18280--18333-18355 and major 18399.

Weak Below 18180 then supports are 18120 & 18060. Major 18000.



Nifty Rollover cost @18178 and Rollover % @72.5. Nifty Jan Future Open Interest Volume is at 1.05 Cr with addition of 27.5 Lakh with increase in Cost of Carry suggesting Long positions were added.

As per Option Data Range is 18300 & 18000.



India VIX fell 3.78% to 14.81 level, from 15.40 level, favorable for bulls.



Today for Bank Nifty also Weekly/Monthly/Quarterly & Yearly closing & Price need to close above 43500-43600 range for a Bullish start for 2023. Bank Nifty Bulls now need to Hold 43030 for move towards 44000.



The Bank Nifty also started off trade lower at 42685 and hit an intraday low of 42490, but bounced back smartly in the last hour of trade and climbed up to 43500 level, forming a long bullish candle on the daily frame. Current range is 43000—43500.



Intraday Trading Levels :-

Positive above 43500 then Resistances are 43666, 43888 and 44000.

Weak Below 43166 then supports are 43030, 42850 and 42666.



for opening dp and trading account online, please visit

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

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.