*Pre-Open daily Tech View of Nifty Spot for 06-09-2022

BY A STAFF REPORTER 

Yesterday Nifty Spot settled at 17666, Day to day Up by 126 points despite nervousness among global counterparts.

Op/Low almost same 17546/40 then maintained the positive bias – higher top higher bottom.
High printed at 17683 & closed at 17666. Formed a Bullish candle after last 2 days consolidations.
Taking support from 17555 <5-9 Dma > & closed above 20DMA 17612.

On the Up side above :-
17700/720 1st & vital Resistances 17777. Fresh break out above 17800 then expected upper hurdles are
17888 & then 17924--18012.

On the downside :-
Immediate support 17630/590 & major 17550. These should hold & to be acted as support for buying.
Below 17550 -1st support 17470. Major 17400/385. Very major 17300.

Therefore, Technically Main range is 17900 to 17400.

Option data indicates that the Nifty can trade in the 17500-17800 range in the immediate term, while 17000-18000 could be the broader range.

India VIX rose 0.57% to 19.66 levels.
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Source : Eureka

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