Intraday market outlook for 9March

On 9March, Nifty fut have resistance at 5148 level, once it manages to cross and sustain above this level we can see it inching up to the levels of 5172-5190-5220 levels. Bulls will try to hold the maket above 5044 levels, however on higher side between 5172-5190 levels, bears can up and attack decisively to weaken bulls, so traders must stay cautious in this range. If bears are able to drag down the market from higher levels, then on downside Nifty fut have support at 5080 level, if this level is breached and sustained then lower levels of 5062-5044-5025 levels. Traders must not leverage positions at higher level.

We recommend all traders to stay cautious in range 5080-5190, as this range will be crucial and crossover and breakout of this range on either side will show some sharp movements. All traders must keep booking profits in long positions and must not leverage fresh long positions at higher levels. In coming days we can see bears trying hard to weaken the bulls if 5190 level is not crossed decisively.

Nifty Levels

• Resistance - 5148-5172-5190-5220
• Support - 5080-5062-5044-5025

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