"BUY
AXISBANK FUTURE ABOVE 504 TG 509/513 SL 498"
Volatility continued ahead of expiry of March futures
& options contracts. Market closed the day on a positive note, with good
movements on both the indices, as investors were not very bullish ahead of
March F&O series expiry. The Sensex ended the day 29531, up 121 points
while the Nifty settled the day at 9143, up 43 points.
Bias is still positive but tomorrow is the F&O
expiry of March series, traders should maintain cautious approach especially in
index trades. For tomorrow nifty now tests key resistance at 9175. A strong
rally beyond this level and the next key resistance at 9200 will strengthen the
bullish momentum. In that case, the contract can rally to the 9225 and 9250
band. But the inability to move beyond 9150 will keep the index under selling
pressure. A decisive fall below 9100 can pull the contract down to 9050 and
then to 9000 levels.
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Supports: 9100 and 9050
Resistances: 9150 and 9200
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