By a Staff Reporter: On November expiry day Nifty recovered day before yesterday’s losses after making almost double bottom at 17351. Day to Day basis up by 121 points. Reliance & Technology stocks helped Nifty mainly.
High made at 17564 and closed at 17536. Though Nifty formed a bullish candle on the daily charts but day’s high just at crucial 5 EMA hurdle & closing at 5 DMA.
For next bullish move should not only stay above that but also should cross 17600+ otherwise may break 17350 & retest crucial one 17200.
17090/17100 -100dma that is the very vital support & that should hold at least for 1st time.
So current range is 17100 to 17600 & volatility may persists in between this range. Only beyond that next big move.
On the downside :-
Bears will get active as long as sustains below 17565 for initial support 17440. More negativity only below that for a move back to 17390—17360—17330.
On the upside:-
Bulls need to move only above 17565 & mainly above 17616 for a move towards 17666-17740.
The Option Table data indicates decent support at 17300 and reasonable resistance at 17800.
Pre-Open Tech view of Bank Nifty Spot for 26.11.2021
Yesterday made a Perfect DOJI & a Big move is expecting in Bank Nifty. Last cl 37364.
Bears will get active as long as sustains below 37510 & they will more active below 37307/270 for a move back to 37113/37000 & then 36918-3672. Positive Only above 37510 for a move towards 37700-37850* & then 37930-38080.
Source : Eureka
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