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Nifty Outlook : Nifty Trend For 07 Mar 18

Nifty closed last day on negative note losing around 110 Points with a day low of 10215.90 & day hight of 10441.35.

Index opened with gap UP of around 75 points. Then Nifty managed to stay above 10400 for first half & started dragging down in second half and made a day low of 10215.90.

On 06 Mar 18, Index manages to close around 110 points down at 10215.90, broke down the last weeks’ support levels and Bollinger Bands (20,2). Now support level coming out for today at 10148.  If the index manages to break out these levels then the index can move to the levels of  10048, where strong support levels are lying.

Conclusion:

All over trend for the day is Negative may break out 10200 levels. Keep an eye on SGX Nifty for opening trend.
# Support – 10148
# Strong Support – 10048
# Minor Resistance – 10300
# Strong Resistance – 10350

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