Nifty Intraday Update for 27th April 22

ifty 50 Index reversed the previous day's losses yesterday on positive global cues with all sectors participating in the rally. Volatility (India VIX) also cooled down to 19.18 but needs to fall way below the 18-mark to make the bulls comfortable. After gap-up opening, Index traded in a range throughout the session, extending the rally late and closing at 17200 levels.

India 50 USD Index Analysis (Intra-day)
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The last couple of sessions have been tricky, with frequent gap down/up openings, apart from the sudden intraday moves in both directions and today’s session will be no different. US Markets fell significantly as fears of an economic slowdown continued following Monday's short-lived recovery. Taking cues, Index fell sharply overnight, again taking support at 16850 levels (important support for the week), made a sharp bounce and is currently trading at an important psychological level of 17000. 17070 and 17250 is likely to be important resistances for the day. The downward momentum will continue below 16850.
Since SGX Nifty is trading significantly lower, we are likely to open with a gap down , Index is gonna volatile in intraday so wait first 30 to 45 minutes to build your intraday.

India USD Daily TF
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16,852 is the major support for the Index and it has already created a double bottom at this price, our ABCD pattern will be activate id this level break.