On 18March, Nifty fut will be having a resistance level at 5255 level, if it manages to hold and sustain above this levels then next hurdle for the upsurge will be 5288 level. If Nifty fut sustains above 5288 level, then we can see higher levels of 5310-5335. In order to retain the recent gains, bulls have to hold Nifty fut above 5288 level, failing to do so bears will will make all possible effort to drag down the markets to lower levels. On lower side support for Nifty fut is at 5210 level, if it breached and sustained then we can see markets sliding down to 5184-5165-5148 levels. In the current scenario the market movement is ambiguous so traders must follow the strategy of buy at dips & sell on rise, rather than waiting for expiry/day closing targets.
We recommend all traders to keep a watch on range 5165-5315, as this range will act as a crucial range and will decide the trend for coming days. Traders must keep booking profits in all trades at every rise without greed, as if now markets can show some ambiguous move. We need to close consecutively above the upper limit in order to have a sustainable uptrend, failing to do so we markets will be in hands of bears for few coming days.
Nifty Levels
Resistance - 5255-5288-5310-5335
Support - 5210-5184-5165-5148
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Intraday Calls
- Shirpur Gold abv 185 tgt-189-192-198+
- Lupin abv 1625 tgt-1636-1645-1660+
- Piramal Lifescience abv 97 tgt-100-105-112+
- Texmo Pipes abv 144 tgt-147-152-158+
- Also watch NMDC, Tulsi Extrusion, Sun TV, Maharashtra Scooter.
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