Nifty Analysis Report For 27 Apr 22
On 27 Apr 22, Nifty opened gap down on a level of 17073 and consolidated in the range for whole day in between 16950 and 17100. Nifty made a doji candle on daily charts which looks like a spinning top, this also shows indecisiveness in the markets.
Nifty Technical Analysis For 28 Apr 22
RSI is sloping downwards and on a level of 45.23 which shows weakness in INDEX until it crosses level of 50 and sustain. PCR is at 0.923 which is neutral level for markets to go on either side. Future data and Option data is negative for 28 Apr 22.
Conclusion And Strategy For 28 Apr 22
28 Apr 22 is monthly expiry and a highly volatile session may be seen. 17000 is a level of struggle and fight between bulls and bears. 16950 is looking a good level of support for index and 17100 is looking a good level of resistance. So if market breaks 16950 and sustain then 16800 may be seen on 28 Apr 22. Buying can be done in Index if it breaches 17100 and hold then 17250 can be seen on 28 Apr 22.