Abhijit_Paul

Nifty InstaView 16 Mar’21: 15K now a proven Resistance

NSE:NIFTY1!   S&P CNX NIFTY INDEX FUTURES

Nifty View: The range of (15,000-15,100) did play out as a source of resistance for the benchmark Nifty in today’s session. The short term trend is down and a break below today’s low of 14,915 will infuse fresh selling pressure. A closer look at the volume profile clearly shows concentration of volumes at the anticipated (15,000-15,100) range and so as long as this zone is not breached on the upside, one should be cautious with long positions.

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