‌Pre-Open Daily Tech view of Nifty Spot for 01.10.2021

BY A STAFF REPORTER 

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‌Yesterday Nifty settled an another lower closing failing to cross 5 DMA 17750 & breaking 9 dma 17680 ended at 17618 down by -0.53% or -93 points but Nifty gained nearly 6% in the September series.

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‌Day to day basis Nifty formed a bearish candle on the daily chart.

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‌Wide range 17444/390 to 17700/740 with middle Trend deciding area 17576/633.

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‌On the down side :-

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‌Fresh negative below 17526 <20dma> & specially below 17490 then lower Slabs are 17460-17444 & major 17398.

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‌On the upside :-

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‌Intraday basis Positive only stays above 17633 then expected upper barriers are 17666, 17699 and 17740.

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‌Nifty trading strategies summary according to last closing 17620 & Pivot 17650:-

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‌Buy on strong dips should be maintained as long as holds 17444 specially 17390.

‌Sell on rally as long as sustains below 17700 specially 17740.

‌More directional trending move beyond that range either side.

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‌The Option Table data indicates decent support at 17500 and reasonable resistance at 17700.

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‌India Vix last closing at 18.40, day to day basis down by -2.31%, took resistance around 19.30.

‌R :- 19.30 & then 21.70—25.20 & S:- 16.85-15-13.80-11.00.

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Source : Eureka