On 16March, Nifty fut will face resistance at 5155 level, if this is level is crossed and sustained then we can see bulls marching ahead till the levels 5172-5190-5205. However bulls have a barrier at 5190 level on upside, so for any fresh buying they have to sustain above 5190 in coming days, if they manage to do so, we can see bears loosing control over the markets and bulls taking charge completely. On the contrary if the level of 5190, is not crossed and sustained, then markets can slide down again to lower levels on account of some profit booking coming at higher levels. On lower side the support for Nifty fut is at 5084 level, breaching this level Nifty fut can slide down to lower levels of 5062-5044-5002 levels. In current scenario bulls are having upperhand till markets are sustaining above 5090 mark.
We recommend all traders to keep a sharp watch on range 5090-5172, as breakout of this range on either side will show some sharp moves in markets. In intraday, on upside 5190 will act as a barrier, so all shorters must keep this level in mind and can use this as a stoploss, on the contrary bulls must keep watch on 5090 level for their positions. Dont leverage positions without knowing the direction of markets, as that can make losses.
We recommend all traders to keep a sharp watch on range 5090-5172, as breakout of this range on either side will show some sharp moves in markets. In intraday, on upside 5190 will act as a barrier, so all shorters must keep this level in mind and can use this as a stoploss, on the contrary bulls must keep watch on 5090 level for their positions. Dont leverage positions without knowing the direction of markets, as that can make losses.
Nifty Levels
- Resistance -5155-5172-5190-5205
- Support -5110-5084-5062-5044
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