TECH ANALYSIS _ NIFTY SPOT_03.01.2022

TECH ANALYSIS _ NIFTY SPOT_03.01.2022

Nifty this Yr cl was 17354. Last year <2020> cl was 13981.

Yearly low 13600~ – Jan 2021. Then Yr High 18600~ -- Oct 2021.

Yearly rose 5000 pts < rounded > from 13600 to 18600.

But Oct to Dec in 3 months – corrected 2200 pts or 44% of 5000 pts Yrly rise.

Dec. 2021 low 16410. From Top 18600 – 12% corrected.

Then in last 2 weeks exactly 1000 points pull back occurred from 16400 to 17400 against 2200 points previous fall.

Monthly rose 370 points or 2%. Monthly High 17640 & Monthly Low 16410.

Week To Week + 350 pts. As per weekly chart Nifty has formed a long bullish candle.

Day To Day + 150 pts.

Source : Eureka

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