Nifty InstaView 02 Mar’21: En Route 15K

Nifty View: A fine follow through up move from the benchmark Nifty index in today’s session. This brings in some degree of confidence in the bounce and high probability that the index will take out the psychological 15K mark soon. Now sustaining above 15K can be a little tricky as there are multiple resistances moving ahead. At the current close, the index has entered a wide falling gap between (14,950-15,050) which is likely to offer some short term resistances. But I will be keeping a closer look at (15.0750-15,150) wherein we have a big volume cluster. Short term traders who have participated in this 2-day bounce on the long side should look to protect their open profits aggressively now.

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