On 10March, Nifty fut will face resistance at 5148 level, this level will act as a crucial level on upside. In order to make the current rally sustain for some time, Nifty fut must hold above the resistance level of 5190. If it manages to cross and sustain above 5148 level in intraday, then we can higher levels of 5172-5188. Contrary to this, if Nifty fut is unable to cross and sustain above the intraday resistance level of 5128-5148, then we will see it reverting back to lower levels again. On lower side it has support at 5084 levels, breaching this level can make Nifty fut to slide down to lower levels of 5065-5044-5020. In order to sustain the recent gains, Nifty fut must close above 5148 level today. Any close below 5044 level can once again make bears stronger.
We recommend all traders to stay cautious in range 5084-5148, and not to create fresh long positions on higher side around 5148 level. The current markets can show higher levels, but the market sentiments will change for bulls only when Nifty fut gives two consecutive close above 5190 level, failing to do so markets may fizzleout to much lower levels. So, traders must keep the levels in mind and trade as per their own wisdom.
Nifty Levels
- Resistance - 5128-5145-5172-5190
- Support - 5084-5065-5044-5020
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