TRADING STRATEGY FOR 17th March :-
Markets close higher with cautious optimism
The market opened gap up yesterday on strong global cues coupled with sharp reversal witnessed in the Japanese markets.
The Sensex after firm opening of nearly 100 points at 18263 closed the session gaining 191 points while the Nifty ended with hefty gain of 61 points at 5511, nearly 25 points off the day’s high. The market will be keenly watching the RBI’s policy statement today outlining measures to contain the surging inflation. Readers may note that the U S markets overnight have lost heavily with the DOW losing more than 240 points on economic concerns after the Japan disaster. The investors are therefore advised to trade with caution.
MARKET OUTLOOK TODAY 17th March:-
US Markets ended lower.
Europe ended lower too.
Asia has opened in deep red.
Expect the Indian markets to have a negative opening
NIFTY SUPPORT & RESISTANCE 17th March :-
R 2 5566.5
R 1 5538.75
Pivot *5507.35*
S 1 5479.6
S 2 5448.2
STOCKS TO WATCH TODAY :-
Look out for stocks like LNT, RIL, KPIT, MNM and Reliance Infra.
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