Our market view for 26March, remains almost the same as we have been suggesting since last two weeks, because Nifty fut is trading in a range of 5180-5285. Today also Nifty fut will face resistance at 525 level, once this level is crosses and sustained for some time , we will see markets to go to higher levels of 5310-5332-5348 levels. At any rise above 5285 level traders must hold long positions with trailing stoploss, as we may see profit booking coming in range 5285-5310, if bulls fail to retain the gains for a longer time. In the current scenario the market movement is ambiguous, as both bulls & bears are trying to take charge over the markets. However, on lower side now 5250 is support level. Any good news for bears will come only if the Nifty fut, breaches and sustains below 5250 mark, and if it happens we can see markets sliding down to 5230-5202-5180 levels. Till Nifty fut is trading above the level of 5180 bulls are stronger than bears, so all intraday dips can be used for buying and any rise till 5310 must be used for profit booking.
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5310 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. More the time Nifty fut remains below 5310, more the bears will become strong and will take charge completely if Nifty fut breaches the level of 5180. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5315 at earliest. Nifty fut range for the day will be 5230-5310, breakout of this range on either side can show sharp movements. Follow the strategy of - buy on dips-sell on rise.... in this range.
Nifty Level
For a sustainable uprise in coming days, Nifty fut must close consecutively above 5310 level. Till Nifty fut is unable to do so, bears will continue to attack decisively at every rise. More the time Nifty fut remains below 5310, more the bears will become strong and will take charge completely if Nifty fut breaches the level of 5180. So in order to have an upperhand in market, bulls have to manage to cross & sustain above 5315 at earliest. Nifty fut range for the day will be 5230-5310, breakout of this range on either side can show sharp movements. Follow the strategy of - buy on dips-sell on rise.... in this range.
Nifty Level
Resistance - 5285-5310-5332-5348
Support -5250-5230-5202-5180
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