NIFTY FOR TOMMOROW - 10 MARCH 2021
Nifty did take support at the levels I have identified well in advance and bounced well from it.
Now the question is, is this bounce/rally going to sustain, well we don't have an answer for that as yet, there are many stocks that have broken their important support and on the other hand, there are some stocks [ IT, Power, Pharma} which started showing strength.
Hence considering these factors we might see moves on both sides of the market.
It can trade in a wide range and can stay volatile amid Russia's ukraine uncertainty.
Now 15800-15600 is going to act as good support, though if it breaks, we could see a massive fall in the index, that can extend to 14450- 14350 levels.
Strong Resistance levels are the same: 16800-17000, as mentioned in the previous post.
Immediate resistance for tomorrow for intraday traders is around 16360-16400.
Now the question is, is this bounce/rally going to sustain, well we don't have an answer for that as yet, there are many stocks that have broken their important support and on the other hand, there are some stocks [ IT, Power, Pharma} which started showing strength.
Hence considering these factors we might see moves on both sides of the market.
It can trade in a wide range and can stay volatile amid Russia's ukraine uncertainty.
Now 15800-15600 is going to act as good support, though if it breaks, we could see a massive fall in the index, that can extend to 14450- 14350 levels.
Strong Resistance levels are the same: 16800-17000, as mentioned in the previous post.
Immediate resistance for tomorrow for intraday traders is around 16360-16400.
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