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WEEKLY RESISTANCE FOR NIFTY: 14800, 15000,15200
PIVOT POINT: 14600
WEEKLY
SUPPORT FOR NIFTY: 14400, 14200, 14000
WEEKLY
CHART FOR NIFTY
DAILY RESISTANCE FOR NIFTY: 14600, 14700, 14800
PIVOT POINT: 14500
DAILY SUPPORT FOR NIFTY: 14400, 14300, 14200
DAILY CHART FOR NIFTY
Trading for the
week started on a flat note owing to muted global cues. However, without
wasting much of a time, Nifty slid into the negative terrain. The selling pressure augmented as the day
Progressed and all attempts of a rebound were comfortably getting Sold into.
Due to tail end correction, Nifty ended the session with a cut over couple
of percent, marking biggest loss in
the February month. The global picture changed a
bit between Monday’s close and Tuesday’s open. The
Dow future was
trading deeply in red on Monday
while we closed;
but after this
there was a v-shaped recovery seen in their market and the
optimism continued yesterday early morning
as well. Taking
such strong cues into the consideration, our markets had a
surprising bump up at the opening convincingly beyond 14700. After the initial
hiccup, the Nifty started rebounding sharply to test the 14850 mark. However, since the market is in a profit
booking mode , it failed to sustain at higher levels. As a
result, the Nifty gave
up major chunk
of its gains
to conclude with nominal gains above 14700.
We had a flat to positive start Wednesday and despite global cues were unfavorable
in the morning, our markets managed to extend gains towards 14800 in
the initial hour. However,
all of a sudden, the trading halted on NSE at 11.40 am due to
some technical snag. It was very unusual and things worsened when it lasted for
few hours without any clear intimation
on further proceedings. This created
havoc among the traders’ fraternity because everyone was clueless about their
outstanding intraday positions. Fortunately, the trading resumed around 3.45 pm
as an exceptional case for a short period. Although it almost opened around the
same levels, we witnessed a complete gush in the second half of the truncated
session. Before anyone could realise, Nifty just hastened towards the 15000
mark. On Thursday market ended on bullish note on February 25 with Nifty ending
the February series near 15100 level supported by the metal and energy stocks.
At close, the Sensex was up 257 points at 51039, and the Nifty was up 115
points at 15097. Market opened with a gap up after positive global cues.
Positive cues from other Asian markets helped key indices to maintain gaining
momentum. Domestic sentiments were positive, as the Central government has
lifted the embargo placed granting businesses to private banks, which is
expected to enhance customer convenience, spur competition and higher
efficiency in standards of customer services. On the global front, Asian
markets were trading in green. Finance Minister Nirmala Sitharaman, in her
budget speech, had stated that more public sector lenders would be privatized
in the upcoming fiscal. As per a report, the government has filtered out four
state-run banks - Central Bank of India, Bank of India, Bank of Maharashtra,
and Indian Overseas Bank for privatization. After three straight sessions of gains, share market indices
slipped majorly to bearish territory on week ended Friday, amid weak global
equities. Sensex was trading 1939 points lower at 49099 and Nifty fell by 568
points to 14529.
NIFTY:
A STRONG SUPPORT WILL BE @ 14300; STRONG RESISTANCE LEVEL SEEN @ 15000