Market Opened on Gap up of 40 Points from its Previous Day Close. Nifty fail to hold on its higher level irrespective of past few days that lead to decline of 60 odd points and during Second Half Rebound and Closed on Flat to Wednesday Close.
*Nifty Closed on 11343.25 ( 14.03.2019)
Apart from Past few Days, Market miss the trending momentum on upside. Is it a Sign of Healthy Correction???.
As per the Current Scenario, 11400 seems to be the Resistance Point for the Market, Extended upside Visible only once witness a break out above 11400, IF market gives a break above 11400, then 11460/11515/11575 Likely on the cards.
Major Support for the Market 11275. Overall Buy on Dip advisable till we Hold on the 11275 mark.
IF at any point Market break below this level and Sustain then Sharp Decline lead to 11200/11100/11000 Possible.