- SGX Nifty indicating 60 points lower opening.
- Nifty managed to close just above the 20 DMA
- Nifty closing at 14,845, current 20 DMA at 14,842
- Yesterday both FIIs and DIIs together have bought for about Rs 3000 crores in Cash market
- One more day of NAV prop up likely today
- Risk-reward favored chasing gap up yesterday, today slightly tricky
- Further rally possible if Nifty crosses yesterday high of 14,876
- Friday low of 14,414 remains stop loss for positional longs
- Bank Nifty at 33,875, current 20 DMA at 34,710
- IT is the clear leader of market heading into the earnings season
- Nifty future may trade between 14800 and 15000.
Nifty/Banknifty 31 March 21
Nifty : 14845
Rest: 15000 & 15225
Sup: 14685 & 14600
PCR: 1.66
Banknifty : 33875
Rest: 34370 & 34500
Sup: 33350 & 33025
PCR: 0.88