Nifty Daily Technical Analysis Report And Strategy 12 Apr 2022

Nifty Analysis Report of 11 Apr 2022

On 11 Apr 2022, Nifty opened with gap down of 44 points. After opening at 17740 Nifty saw some selling pressure which dragged Nifty towards our first target of 17640. 17650 acted as a support and some buying was seen and whole day Markets remained in consolidation between 17650 to 17780. Both levels to be watched carefully, breaching of any of this on either side will trigger a good rally in the Markets in same direction.

Nifty Technical Analysis For 12 Apr 2022

For 12 Apr 2022, 17700 will be a level of struggle between bulls and bears. Future and option data is negative for tomorrow. PCR is at 0.859 which may support market to go upwards.

Conclusion and Strategy For 12 Apr 2022

If market break the level of 17790 for target of 17900-950 and if Nifty breaches 17650 selling can be done and targets will be 17600, 17522, 17490. According to option chain, 17800 will act as a strong resistance followed by 18000.

Wait and watch the markets and let it break the level on either side to trade.