NIFTY OUTLOOK FOR TOMORROW

HAPPY HOLI TO ALL THE VIEWERS

SBIN 2000 put given in last post achieved all the targets!!!!!!!!!!!

NIFTY OUTLOOK FOR TOMORROW

Remaining flat for most of the session around the 5690-level, the index tanked almost vertically during the last couple of hours. In all likelihood, we would fall below that as well. It appears as if a test of sub-5600 levels for the Nifty is on the cards. The strong support referred to is  between 5630 and 5610 would be put to test in the day’s session. Given the kind of nervousness and the derivative settlement date (Mar 28, Thursday) knocking at the door, there is, perhaps, some more selling is still pending....

Thus a corrective price movement appears all the more likely from both time and price perspectives. On the way up, the small range between 5650 and 5660 would be the first supply zone that the bulls need to successfully take out this zone assumes special significance due to some buying that happened around that range in the recent past—now those who are stuck on those failed bargains would bring in supplies there. Beyond that 5685 is another critical level, which unless successfully taken out could nip all recovery attempts in the bud.
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RESISTANCE:5650 5680, 5700

SUPPORT:     5640, 5620, 5600