Pre-Open Tech View of Nifty Spot for 27-01-2022

By a Staff Reporter:  10-year US Treasury yield rises above 1.85% after Fed signals a rate hike in March and more after that.

Asia in Red, SGX Nifty below 17000, currently 16928 -292 pts.

Technically, last day here after 5 days consecutive stiff fall Nifty rebounded from expected crucial support 16836 and due to short covering bounced upto 17309 & settled at finally 17278 before Fed policy & monthly expiry. Nifty jumped 128 points and formed long Green candle with long lower shadow on the daily charts.

This counter attack by Bulls may be an indication of bottom reversal but for that more confirmation is required.

If confirmation in Bulls favour then reverse rally can move towards 17600 & even 17800 otherwise may re-test further 16800 & even below that. <200dma = 16625>

Source : Eureka

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