Pre-Open Daily Tech View of Nifty spot_12.04.2022

By a staff reporter:

Yesterday after a negative opening, Nifty through out the session was in a range bound mode in between 17650 to 17780 range with a negative bias. Nifty Day to Day basis was down 109 points, or 0.61% settled at 17675.As per Daily chart it formed a small inside body bearish candle, which indicates indecisiveness. Day’s high 17779 was capped by crucial 5 DSMA.

Market is showing some cautiousness as this week is a truncated holiday-shortened week & traders eyes on forthcoming ECB meeting, US inflation data, and mainly on the start of the domestic Q4 result season. Sectoral basis yesterday IT index was down 1.4% whereas Energy Index was up 2%.

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Source : Eureka

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