Nifty & Bank-Nifty view for 17.03.2021

Dated 17.03.2021
Good Morning friends
spot levels

FII +₹1,692.3 Cr
DII -₹1,168.6 Cr

Nifty cmp 14910
PCR -1.29
RSI -50.43
VIX-20.19

Resistance ,15040-52,15112-15132, 15162-15172, 15210
support ,14900, 14823-790, 14728

1. Trade Opportunity: If Nifty Break and sustain below 14900 it may test 14823-790 ,14746-23

2. Trade opportunity: if nifty open Gap up and sustain above 15040, short covering may come tomorrow as weekly expiry is near. This short covering may push nifty toward 15100-15112-132 level as there are huge call writing at 15000 and 15100 level.

B-nifty
CMP 34808
PCR-0.88 oversold
RSI-46.94 ( break 50 level intent to show more deep correction )

Resistance : 35230, 35460-35570
Support :-34915-35000, 34650-430, 34100-33936, 33698-33633

1. Trade Opportunity: Bank nifty showing weakness, if tomorrow open gap up and break 35000 level on down side may correct up to 34650-435 and more 34100-33963 level
2. Trade Opportunity: Bank nifty if sustain above 35000, it may test 35450-570 level

Trade closed: target reached:

Bank nifty target 34435 done Gain points 500*250=1.25 lakh
Nifty target done