Daily Tech view of Nifty Spot for 04.04.2022

Daily Tech view of Nifty Spot for 04.04.2022

Last Friday Nifty surged 206 points settled at 17670 and formed a bullish engulfing candle on the daily charts after a day of consolidation.

Sentiment lifted due to fall in oil prices and volatility, consistent buying by FIIs & cabinet's approval for mega power policy.

Strength have resumed after breaching & staying above 17525/555 & then smoothly crossed 17600 mark, high printed at 17703.70.

Therefore, technically speaking for coming session if holds 17576 & mainly 17530 on down side & on the up side if crosses 17705 and stays above that then initially may hit 17777 to 17820 but 17900-18000 mark may test swing basis.

Resistances :- 17705 – 17777 –17820. Major 17885.

Supports :- 17600/576 –17530 – 17500 Major 17459.

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Source : Eureka

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