The market recovered sharply from day’s low driven by short covering in banks but the benchmark indices failed to close in the green. The 30-share BSE Sensex fell 276 points intraday following weakness in Asia and US and amid increase in the PNB fraud amount but the recovery in banks in later part of the session helped the index close off day’s low. The index was down 21.04 points at 33,835.74 while the 50-share NSE Nifty manages to close above 10,400 amid volatility, falling 16 points to 10,410.90.
Nifty Trend for Tomorrow
On charts, both Nifty and Bank Nifty future looking very strong for Thursday market we expect another session where bulls will be rewarded. 10600 is looking possible from now for Nifty future and in the process 10490-10510 is the hurdle that Nifty future has to face and for Bank Nifty future we can see 25550 level soon and the hurdle for Bank nifty future is 25090. Strategy for Thursday market will be again buying on dips and don’t panic with any fall in market and instead of panic use that fall for buying stock in your portfolio. Once again market is expected to be volatile and Economic News will keep affecting market fluctuations either it is domestic or global.
Support For Nifty Future : 10365 and 10300
Resistance for Nifty future : 10490 and 10530
Support for Bank Nifty : 24710 and 24550
Resistance for Bank Nifty : 25100 and 25280
Approach to Follow : Buy on Dips
Free Stock Tips Tomorrow : 15th March
BUY UNION BANK FUT ABOVE 103.50 TARGET 104.50-106 WITH SL 102
BUY TATA COMM FUT ABOVE 642 TARGET 646-651 WITH SL 637
BUY TATA METALI ABOVE 773 TARGET 779-786 WITH SL 766
BUY SYNDICATE BANK FUT ABOVE 61.30 TARGET 62-63 WITH SL 60.60
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