Nifty InstaView 24 Feb’21: Full on Drama

Nifty View: An eventful day for the Indian Equity markets with the data outage from NSE - the largest exchange in the world in terms of derivatives volumes. In terms of price, the index managed a bounce back to post a close just a tease below the psychological 15k mark. There was a freak trade at 15,524 which we will not pay much importance to going ahead in our analysis. The short term trend is still down and only a confirmed close above 15K will bring back some sentimental confidence. Considering the price volatility and exchange related drama it is advisable to stay cautious and trade smaller bet sizes till we settle in terms of the underlying trend and excitement. Short term resistances to watch out for is at (15,050-15,150).

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