On 11March, Nifty fut will face resistance at 5148 level, if this level is crosses and sustained then we can see higher levels of 5165-5190-5224 on upside. However, in intraday trade traders must remain very cautious in the range 5148-5190, as this range can be resistance zone for markets. The current bounce back in markets will be for a short time if unable to sustain above 5190 levels. This current upside will be favourable for bulls only if Nifty fut gives close above 5190 level for 2-3consecutive days, failing to do so bulls might once again loose control and bears will take the charge over them. On lower side Nfty fut have support at 5090, if this level is breached and sustained then we can see lower levels of 5060-5044-5020. Any close below 5044 level will make bears stronger and once again a bear attack can be faced by markets.We recommend all traders to keep a watch on range 5044-5165, as this range will be crucial to watch for further movement. Any rise above 5148 level till 5190 levels, must be taken as an opportunity to book profits in longs and not to create fresh long positions in this range. Cautious approach must be taken for investments in Reality, Banking & Sugar sector. In coming days the movement in markets will be sharp and ambiguous, so low risk traders are advised to stay sideways. All other traders must strictly follow the levels for trades, any trade without proper advice/levels, might be a gamble.
Nifty Levels
- Resistance - 5148-5165-5190-5224
- Support - 5090-5060-5044-5020
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