Pre-Open Daily Tech View of Nifty Spot for 22.09.2021

BY A STAFF REPORTER 

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‌Yesterday Nifty rebounded strongly after 2 days consecutive deep fall from 17326, taking support before crucial area 17300 then gave intraday basis continuous surging. High printed at 17578 which was crucial 50% retracement hurdle of the recent fall.

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‌Nifty formed a bullish hammer kind of candle on the daily scale and closed with gains of around 165 points. Settled at 17562, closed above 5 dma 17538.

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‌For Today initial range on the down side is 17480 & upside 17580 & those may act as a crucial role.

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‌It has to continue to hold above 17480/450 zones, for an up move towards 17630 and 17700 zones but subject to crossing 17580.

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‌Though the short-term trend still looks up but uncertain global market conditions could see the Nifty in the 17650 to 17450 range < rounded>

Source : Eureka