Pre-Open Daily Tech View of Nifty Spot for 23.09.2021

​By a staff reporter: 

‌*Pre-Open Daily Tech View of Nifty Spot for 23.09.2021*

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‌Yesterday was a volatile day with narrow range session in between 17515 to 17610.

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‌Ahead of FOMC meet Nifty already bounced 61.8% or almost 300 points pull back over against the recent fall from 17793 to 17326 & i.e. 17615/625, Nifty High 17610. Nifty took pause before crucial Meet & day to day basis declined 15 points to 17546.

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‌Today after FED decision and in Asia as Hang Seng jumps initially 2%; Evergrande shares surge more than 22% after days of losses here opening should be above 17615/25 the range breakout level for the day traders & that to continue towards 17666 & even 17700/725.

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‌Yesterday’s Bulls several attempts failed to cross 17610/15 level but Bears unable to break and sustain below 5 Dma =17525/3 dma = 17500.

‌Below the same, a quick intraday correction till 9dma =17461 & 13 dma = 17400 are not ruled out.

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‌*On the Upside :-*

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‌Bulls need to move above 17590 & mainly above 17615/25 for a move towards 17652/17666 & then 17698-17723. Major 17777.

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‌*On the Downside:-*

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‌Bears will get active below 17525 & mainly below 17500/488 for a quick move towards 17461-17430 & 17390.

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‌*Today Expiry & expected Expiry edge Upper side 17698 & lower side 17390.*

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‌*The Option Table data* indicates decent support at 17400 and reasonable resistance at 17700.

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‌*India Vix* last day flat closing 16.49 down by 0.17%. Day Low was 13.28

Source : Eureka