16 March 2018

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 19 MARCH 2018


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The week has ended on bearish note. The indices has came under heavy selling pressure on Friday, Sensex and Nifty, plunging over 1.50 per cent each. The Sensex tumbled 510 points to 33176, while the NSE Nifty slipped below the 10,200 level to 10197 , down 162 points. Very clearly, the political landscape has changed dramatically post Gujarat election and now it is visibly clear that for a single party to get majority is going to be very difficult. I think that scenario is now working in mind of every investor.  The TDP has moved a no-confidence motion against the NDA government on the issue of granting special category status to Andhra Pradesh, according to a PTI report. Already, the YSR Congress' motion against the government is pending.  The government, however, exuded confidence that it has the numbers to ride out the crisis. The motion will be the first such move during the tenure of this NDA government. The nifty future has opened at 10344 made a low of 10197 and closed at 10238. Total 147 nifty future has moved in intraday.
Pullback rally is expected in upcoming sessions. Going forward, the immediate support for the Nifty is placed at 10150 and 10100 levels. On the flipside, resistance is seen at 10400 and 10450 levels, but the major hurdle is in the 10350-10280 region and till such time that this region is taken out, any rally may be considered as a pull back or of corrective in nature.
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Resistance: 10350, 10400, 10450
Support: 10150, 10100, 10000

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