Nifty InstaView 22 Mar’21: Tug of War

Nifty View: Push and pull throughout today’s trading session as the benchmark Nifty manages a flat close at 14,756. At the end it was a little comforting for the bulls considering the fact that the index started off on a weak note. We have a fairly divided market with weakness coming in from Banking and Financials which was countered by Real Estate, FMCG, IT and Pharma. No change to the underlying short term trend, which is still very much Down. Swing traders should look for short opportunities for the next few sessions, unless the index surprises us on the upside. Resistances to keep a watch for is at 14,900 and the psychological 15K. 14,600 is the immediate support.

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