Pre-open Daily Tech view for 06.12.2021

By a staff reporter: 

Nifty Spot last cl 17197.-205 points lower closing D to D basis.

RBI Policy meet this week. Impulsive move possible.

For Monday:- Initial range 17225-17170.

On the downside :-

Phase 1. :- Below 17170, if holds then Immediate Support 17140.

Phase 2. :- If breaches then only 17101—17058 & major 17028-16983.

Phase 3. :- Very Major 16940/910.

On the upside :-

Phase 1. :- If Nifty holds 17140/100 & after bouncing crosses 17225 then

Phase 2. :- Immediate Resistances 17260/290 & 17325. For fresh bullish move this should cross.

Phase 3. :- If crosses then only 17365 & major 17410. Very Major 17490.

Bank Nifty Fut last cl 36350. D to D basis down -282 points.

O:- 36645 H:- 36966 L :- 36175 pivot :- 36497.

On the Down side :-

1st phase S:- 36175 & then 36000.After that fresh down move towards

2nd phase S:- 35800<200dma> – very crucial support -- 35645.

3rd phase S:- 35450 & then fresh break down 35222/35100 & more.

On the Upside :-

1st phase R:- 36500 then only

2nd phase R:-36666—36819—36966.After 37000 break out hurdle 37200.

3rd phase R:- Above 37200 & then only very major hurdles 37500—37650/37777. Difficult to cross.

Main range 37500—35500.

Source : Eureka

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