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Pre - Market Analysis (31st March 2021)

  1. US markets closed slightly lower Yesterday.
  2. SGX Nifty Yesterday night was near 14950.
  3. Right now SGX Nifty is around 14850.
  4. Asian markets are a bit weak.
  5. Hence this weakness in SGX Nifty.
  6. I have been actively trading since 9 years in Stock Market now.
  7. One thing I always expect from Stock Market is Uncertainty and Surprises.
  8. Yesterday both Nifty & Bank Nifty were up more than 2.5% as on closing basis.
  9. After a big gap up many were expecting Markets to consolidate or be weaker.
  10. But Market continued the rally.
  11. As a trader it's important not to be stubborn and stick to your original plan.
  12. If plan isn't working change the same immediately.
  13. So in last 2 trading sessions both Nifty and Bank Nifty are up more than 4%.
  14. Now the most important question.
  15. Will we rally further , whether there will be a sell off or will we consolidate?
  16. I feel that 14600 is a good support on the lower side for this weekly expiry.
  17. We had a broad based rally these two days plus both FII's & DII's were net buyers yesterday.
  18. So the chances of market weakness is less.
  19. My view is bullish / consolidation.
  20. 15000 CE can act as a good resistance for this weekly expiry.
  21. If 15k breaks then it's definetely bullish signal.
  22. Nifty might Trade between 14740-14980 today.


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Nifty hits 17k (15th March 2023)

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