Nifty View march 20

Hi,

Yesterday we had written: “On remaining below Friday’s low NF will go up to 5286. On break below 5286 with volumes will take NF to 5223-5201”.

Yesterday in the opening trade NF made high of 5359.90 but in just couple of minutes broken Friday’s low to indicate weakness of the market. Below Friday’s low NF has broken 5286 too and made low of 5258.60.

Today, while updating this SGX nifty is trading at 5273.

Today’s trading levels for Nifty Future:

Resistance: 5286-5333-5367-5371-5397

Support: 5223-5201-5175-5162-5114

Today, on remaining above 5286, NF will take attempt for 5333. On break above and sustaining above 5333 will take NF to 5367-5371. 5367-5371 will provide strong resistance.

On remaining below 5286, chances are bright to go up to 5223-5201. If NF manages to break 5201 with huge volumes and sustains below it then we can expect 5114. One has to be careful around 5175-5162.

Today is 21^st day from the high of 5635 and 5^th day from the high of 5542 so if there is any chance of reversal, it will happen in these two days. Today, If bulls are not managing close above 5286 then it will increase chances of 5114.

Regards,

analysenifty team