27 March 2018

NIFTY PREDICTION & FREE NIFTY TIPS FOR 28 MARCH 2018

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Market continued to trade higher for second consecutive session, with BSE Sensex closed 108 points higher, while NSE Nifty remained unchanged on Tuesday, tracking positive move in global equities. However, caution ahead of expiry of the March derivatives series on Wednesday and a holiday-truncated week limited gains. The nifty rallied more than half a percent in pre-opening trade, tracking positive global cues on easing trade war tensions. Nifty future has opened at 10190 made a high of 10210 & low of 10147 and closed at 10175 up by 25 points.
We have been observing positive divergence on the Nifty daily charts, Positive divergence indicates that dominance of the bears is losing grip over the bulls while making new lows, which ultimately could turn the trend in favor of bulls, once Nifty surpasses crucial resistance levels. As far as resistance is concerned, Trendline, adjoining previous two tops on the daily charts projects the resistance at 10275 odd levels. A breakout above this level could be considered as a trend reversal sign, till then the positional trend would remain bearish. The recent bottom of 9950 is likely to act as a short-term support. We expect Nifty to extend the recent pullback rally up to 10300. The level of 9950 seems to be a short-term bottom for Nifty which should be kept as a stop loss while trading longs.
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Resistance: 10275, 10300, 10325
Support: 10100, 10050, 10000

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