Last week Nifty took resistance exactly @ 7234-40 levels and met upto 3rd support/target level of 6988. A whooping profit of 240+ points with stop-loss of only 10 points. The risk reward ratio of 1:24.
This week because of Union Budget we may see speedy up & down swings.
Unless & until Nifty does not gives a close below 6800 there is nothing to worry. If Nifty approaches in the zone of 6870-6825, then our plan of action is to buy Nifty in this zone with stop-loss @ close below 6800.
A close below 6800 will open much lower gates for Nifty & we may see 6666-50, 6360 levels in the near future.
29th to 5th March pressure time zone
Major resistance levels are 7059, 7155, 7198, 7250, 7283, 7370,
Major support levels are 6960, 6900, 6889, 6869, 6835-25, 6780, 6698, 6666, 6616, 6535, 6455, 6374
This week because of Union Budget we may see speedy up & down swings.
Unless & until Nifty does not gives a close below 6800 there is nothing to worry. If Nifty approaches in the zone of 6870-6825, then our plan of action is to buy Nifty in this zone with stop-loss @ close below 6800.
A close below 6800 will open much lower gates for Nifty & we may see 6666-50, 6360 levels in the near future.
29th to 5th March pressure time zone
Major resistance levels are 7059, 7155, 7198, 7250, 7283, 7370,
Major support levels are 6960, 6900, 6889, 6869, 6835-25, 6780, 6698, 6666, 6616, 6535, 6455, 6374
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| Nifty Spot Chart |
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