On our Previous Market outlook, We updated that Wednesday First 30 Minute of the Day will be crucial for the Continuous uptick on the Market. Nifty opened on 20 Point uptick near to 11553 but fail to Hold on above and that lead to slide of 50 Point slide from its Opening Level. Market remain flat through out the day.
Nifty Closed on 11521.05 ( 20.03.2019)
Market opened near to its crucial level of 11530, IF Market succeed to hold on above the level then Nifty can climb towards 11600/11635 easily. Similarly If market miss the momentum to hold on above 11530 and Sustain below the level for a while Nifty remain on a flat trend till its breach 11500.
11500 be he Intermediate Minor Support for the Market. At any point Nifty break down below its Minor Support and Sustain below for a while then its confirmatory that market slip into profit booking mode and that may lead to 11460/11400 to its Intermediate Major Support for the Market for a mean while.
Till the time Market hold on 11400, Buy on Dip will perfectly advisable on the Current market. once Market break down below 11400 and Sustain then we will witness a sharp cut on the Index likely 200-400 Points.
F&O Ban Stocks: ADANI ENT, ADANI POWER, IDBI, JET AIRWAYS, RPOWER