Nifty Daily Technical Analysis And Report 22 Apr 2022

Nifty Analysis Report For 21 Apr 22

Nifty opened up on a level of 17234 as chart indicates strength by making a pattern of Bullish Harami on daily chart. Bulls continued to hold level of 17200 and a strong buying was seen in the market which took market to a level of 17414. Nifty achieved our both target in first half only and continued its momentum on a positive note.

Nifty Technical Analysis For 22 Apr 22

Close = High i.e (17392 = 17414) which shows strength in market. A strong bullish candle on daily chart after the bullish harami pattern is confirming a positive trend ahead.

RSI breaks 50 level from downside and sloping upwards on a level of 51.50. MACD makes green histogram on daily chart. Option data is positive for 22 Apr 22.

Conclusion And Strategy For 22 Apr 22

If Index holds 17400, then buying can be done for a target of 17450, 17530 and 17620. Downwards, market is expecting support at 17275. If Nifty breaks 17275 then selling may come in markets and 17186, 17070 may be seen. According to option chain, 17300 and 17400 are looking the levels of fight between bulls and bears. So for 22 Apr 22, wait for markets to hold 17400.