nift view march 16

Today, while updating this SGX nifty is trading at 5421.

Today’s trading levels for Nifty Future:

Resistance: 5437-5470-5527-5568-5578-5635-5657

Support: 5414-5394-5372-5331-5286-5223-5201

Today, on remaining below 5414-5394, NF will go up to 5372-5331. Break below it will take NF to 5286. 5223-5201 is last major support medium term trend.

On crossover above 5437, NF can go up to 5470. Above that 5527 is a major resistance. On crossover above it with huge volume will take NF to 5635-5657. One has to consider 5568-5578 as a hurdle.

This is 13^th week from the low of 4538. This week or next week’s high will be very important for the market.

Today we will see huge volatility in the market. Today one can have great chance of making huge money or loosing huge money but no technical will work today so we would suggest to stay away from the market for the day.

Regards,

ANALYSENIFTY TEAM