Pre-Open Daily Tech view of Nifty Spot for 26-09-2022
Today weak even Gap down opening below 17300 is highly expected amid strong bearish Global cues. Initially should honour August Low around 17150.
This week market may face volatility amid Global cues, FII’s action, RBI's interest rate decision on Friday and September F&O expiry. US GDP numbers will be important. Current market sentiment is mainly determined & guided by the trend in the rupee, which breached the 81-mark against the US dollar for the first time ever on Friday.
/)
This Friday Nifty corrected heavily. D to D basis -300 points. Not only breached the rising time Gap area 17380-17400 mark but also broke intraday basis crucial life line support 50EMA/SMA 17350/330 zone. After hitting day cum weekly low @ 17291 closed at just 50DMA 17327.Daily basis it formed a very strong bearish Engulfing candle. Daily Basis this big body/strong bearish candle is actually 3rd consecutive lower top lower bottom formation after 2 small body doji type bearish candle.
In last week 1st negative indication was failure to sustain above as per daily chart 5 & 9 moving avg bearish cross area 17825-17777 region & that was more accelerated after breaking 20DMA region below 17700/680. Last Friday initially false attempt to cross running 5DMA 17640 mark & whipsawed from there. These levels to be acted as resistances.
On the down side :-
Intra cum swing basis expected supports are -17243—17170 & then major 17110-17050.
On the Up side :-
Intra cum swing basis expected resistances are -17350-17444 & then 17518—17575.
Please contact the below telephone nos for Demat and Trading Account Opening.
+91 98312 00699 / 82749 09974
For Opening DP and Trading Account online, please visit
https://kyc.eurekasecurities.net/home/index/729
#sharemarket #financialmarket #opentrading #opendemataccount #opendemat #sharemarket #insurance #insurancebroker #insurancebroker #trading #Buyback #IPO #mutualfundinvestments
#SIP #investment #mutualfunds #mutualfundinvesting #sharemarket #stockmarket #investing #mutualfundsindia #equity #debt #hybrid #money #growth #wealth #trading #finance #investor #savings #wealth
Exclusive for ANM News Viewers - ANM's Financial & Insurance Related News - To join our group please visit https://www.facebook.com/groups/668263891032421
Source : Eureka
Please register at https://kyc.eurekasecurities.net/home/index/729 for opening Trading and Demat Account.
/anm-english/media/agency_attachments/AtBG5e3MoE629QYzhZen.png)
/ )
/anm-english/media/post_banners/U3WUWzx8lJCmwZGRfxcL.jpg)