No point guessing where the market may move when we are going to have some highly volatile days ahead. (Fed, Budget, Results etc.)
1. As of now, NIFTY has Stronger Supports than Resistances. 2. 17000 is Technical + Psychological level and would be hard to break. If broken, we've important Supports at 16800/16725/16675 of which 16675 would be most important (App. 200MA) 3. RSI starting to showing strength which needs a follow up Buying. We mandatorily need a closing above 17600 for a confirmed uptrend. 4. Resistance at 17300/17380/17550 5. As discussed in last chart, 15900 would be highly likely if 200MA support breaks. 6. In any case, it's a great time for long term investors getting strong companies at attractive prices. Grab them (After consulting with your financial advisor) 7. Views are speculations. Please don't create positions according to these. Thank You!
Trade active
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High of 17373.50. Closing is all important.
Comment
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Faced resistance around 17380 levels and fell flat to close at 17102. We're still good. Enjoy weekend!
Trade active
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17400 done. Now it's all about where it closes!
Trade active
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High of 17596.10. 17775+ highly likely. Let's see!
Good Bro, the only reason of my worry is why the foreign investor took out their money, normally if they are expecting market to go up after budget sure they gonna put the money in and its almost last day before budget & still no activities of foreign investors. If market down then we are expecting good fall. there are little more tensions also in world, like the china issue, (Main reason for Steel fall), war between Russia and ukraine (Impacting economy & trade) and also Covid. what is your view on this. Sure they are saying that sensex will touch 1 lakh by 2025. it will be good return in that case.
Equity_OptionTrader
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@vessel3, FII's take their decision on the basis of Fed as they're hard on inflation which is directly affecting FII's buying.
ANKITHSHAJU
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NIFTY IT and Banks looks interesting.
berinpahwa
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Similar analysis to mine done on Jan 24 and posted on trading view, reinforces my view. thx