NIFTY TIPS AND TREND TODAY 16th March

PRE MARKET ANALYSIS; MARKET CAN SEE POSITIVITY

Markets are expected to recoup yesterday's losses in the morning session on back of strength in global markets as investors started buying at lower levels. The Nifty futures on the Singapore Exchange were up 29 points, at 5492.

Japan's Nikkei 225 surged as buyers crept in after the index fell as much 16% the previous day. Bank of Japan announced that they will inject $3.5 trillion into the system also lifted market sentiment. The index was up 4.4%, 8,981. While the markets have risen.

NIFTY TREND TODAY:-

Nifty was on bear trend last day .The Nifty opened much lower and regained little bit to close at 5449.The low made(5373) was our support level and bounced back from that level.

Nifty opened with a big gap on the downside but instantly reversed most of its losses in the initial half of the session, however yet again succumbed to selling pressure towards close. It ended the day with a loss of 81 points at 5449. It was unable to cross the resistance of 5565 in today’s session and hence remained in the grip of bears. Going forward the low registered in today’s session is an important level to watch out for. Should it breach the level of 5373 then we may witness further sell off which may take it down to 5345 to 5313 level. The level of 5313 is a critical support for Nifty. A breach off that confirms further bearishness which may take it down to Feb lows. On the higher side the level of 5565 continues to remain as a severe resistance for Nifty. It remains bearish as long as it trades below 5565.

NIFTY SUPPORT & RESISTANCE(POSITIONAL)

Positional Support for NIFTY 5424 

Positional Resistance for NIFTY is 5467 5501 5514 5585 5680 5683 5711 5808