Pre-Open Trading Ideas of Nifty Spot for 27.10.2021

BY A STAFF REPORTER

Yesterday we have seen a Volatile trading session. Nifty was up 143 points, or 0.79% extending the previous day's gains & closed at 18268.

After 5 consecutive Red candles 1st day Green candle with higher top higher bottom formation, indication of bouncing, but still cautious at higher & may be range bound in between 18350 to 18150.

18090 – last day’s bottom area is the crucial support.

On the upside :-

Intraday basis if Nifty sustain above 18185 in the next session and crosses & maintains above 18310/315, strength shall further extend towards 18350—18385 & major 18424.

As a swing basis Traders should hold long positions and look for a target of 18480/500 subject to hold below 18090 levels.

On the down side :-

Though major Swing basis support at 18100 <+/- 10/20> but intraday basis immediate supports below 18244 at 18214--5 dma 18185 & 18144/119.

Below 18090 expected next life line support at 18000 = 20 dma & 17950. Very major 17865 = 30dma.

The Option Table data indicates decent support at 18100 and reasonable resistance at 18400.

India VIX closed at 16.75 down 4.87% day to day basis.

Source : Eureka

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