Yesterday i.e on 23rd March, the markets traded firmly throughout the day and ended on a strong note. All the major sectoral indices ended in green, Reality and Banking counters being the highest gainers. The Sensex closed at 18,206 up by 217 points after making an intra-day low of 17,950 and the NSE Nifty up by 66 points to close at 5,480 after hitting a low of 5,401. The mid cap and small cap indices were up by 0.90% and 060% respectively. The market breadth was positive and the total turnover was Rs 1,39,553Cr. The march future ended with 23 points premium.
So we can say that ,Nifty was on bull trend last day and closed at 5480.Today the first resistance for nifty is at 5502-05 level.Next resistance is at 5525-28 level. Next resistance is at 5560-65 level.Next main resistance is at 5605-10 level.
On downside first support is at 5456-51 level.Next support at 5435-31 level.Next support at 5396-91 level.
Next support at 5378-75 level.
The nifty had made a good move yesterday and close near to bull zone.So today long should be consider better above 5505 level as 5485-5500 is a resistance area and on down side do not take long below 5450 .Positionally the main support is at 5390 level.
POSITIONAL SUPPORT and RESISTANCE FOR NIFTY
Positional Support for NIFTY 5462 5446 5440 5438.
Positional Resistance for NIFTY is 5515 5635 5674 5695 5770.
LIVE INTRADAY CALL TODAY:-
Biocon Ltd
Buy Above 331.50 TG-335-337 SL-326.40
If trade below 327 go for Sell TG-324-322
Bank Of India -
Buy is advised only above 453.20 TG-457-460 SL- 447.8
Below 447 go for Sell TG-442 SL 453.20
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