Market Ready to Start the Week on a Positive Note: Volatility May Persist!!

Date: 12-03-2018

nifty outlook
Friday: The Nifty opened in the green, but it fell down in the last leg of the session due to selling pressure, finally ended in the red at 10226.85. The index made a red candle on the daily chart as well as on the weekly chart. Now it is crucial for the Bulls to sustain above 10300 to turn positive. As global market closed on a strong note so, the domestic market likely to start the week on a positive note. It would be important to watch that bulls capitalise it or not. Technically, the Index will remain sideways as long as it trades below 10300 levels. It is advised to adopt extremely cautious approach and capitalise every rise.

Today: The Market is likely to open gap up today tracking Nifty Futures on the Singapore Stock Exchange and strong Global Cues. We see the crucial support for the Nifty is at 10180-10150-10097 levels whereas, stiff resistance exists at 10390-10450-10635.

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