Friday, 23 March 2018

Market Mantra: Nifty, Bank Nifty Future (23_03_18)

Nifty tumbled on terrible global cues amid Fed and Trump tantrum coupled with a report that CEO of a top Indian private bank & her spouse may be directly involved with PNB scam stars.

Updated: 08:30

SGX-NF: 9995 (-121; -1.20%)

Expected BNF opening: 23800 (-1.20%)

(Gap down on terrible global cues on US-China trade war and a fresh White House purge, NSA replaced by a known China and defense hawk)
March-Fut (Key Technical Levels)

Support for NF:


Resistance to NF:


Support for BNF:


Resistance to BNF:


Technical View (Positional):

Technically, Nifty Fut-Jan (NF) has to sustain over 10110 for a further rally towards 10150/10210-10250/10300-10350/10400 in the short term (under bullish case scenario). 

On the flip side, sustaining below 10090-10055 NF may fall towards 10000/9950-9920/9865-9815/9760-9705/9680 in the short term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 23900-24050 for a further rally towards 24200/24400-24600/24900-25150/25250 in the near term (under bullish case scenario).

On the flip side, sustaining below 23850-23800, BNF may fall towards 23600/23400-23150/22995-22700/22500 in the near term (under bear case scenario).


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