Nifty Analysis Report For 20 Apr 22
Nifty opened up on a level of 17045 on a positive note and Bulls succeed to hold the crucial level of 17000. Nifty closed in green above 50 DMA and Index made a Bullish Harami candlestick pattern on daily chart.
Nifty Technical Analysis For 21 Apr 22
RSI is sloping upwards after a sharp fall and now on 46.06. RSI must break the level of 50 and hold to change the trend of market in bullish mode.
For 21 Apr 22, 17150 is a level of struggle between bulls and bears as per option chain, 17100 is looking as a good support followed by 17000. And 17200 is looking a good resistance followed by 17300.
Conclusion And Strategy For 21 Apr 22
As 21 Apr 22 is weekly expiry, a volatile session can not be ruled out. Broader range is 17000-17350. Buying can be done if Index breaks the level of 17186 for a tgt of 17275, 17350. Nifty can be short if it breaks the level of 17070 for a tgt of 17000 , 16960.