Strategic Nifty Levels

nifty weekly chart

Nifty the benchmark Index of the Indian Markets had seen a downside move to the lower levels of 10142 which it made on the 7th of March, 2018 and then it gave a bounce back to the levels of 10480 levels on the 13th of March, 2018 which is within 5 trading sessions showing a buying momentum. But this only took resistance of 10480 zones and again started falling. And again the index has seen a fall of 300 points within 3 trading sessions. This shows that the volatility in the index has increased and if the levels of 10105 is broken then more downside is possible, and buying can only be seen in the markets if it is able to cross 10285 levels. These levels are based on our Strategic Technical Analysis which gives us a better outlook of the market.

Nifty In the weekly chart has formed a strong resistance at 10500 levels and if we follow the charts we see that a fall in price is always seeing a resistance being made after a bounce back. The overall trend of the market is in a bearish momentum and every pull back from here on is going to be a sell on rise opportunity.

 

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