Nifty Trend today– 8.45 am- “EOD chart” or Daily chart shows Nifty formed a bullish candle. This is pre budget rally and driven only by liquidity. SGX nifty shows Nifty to open near 10997 and try to hold above 11000 but as hourly chart is in over bought zone profit booking cann’t be ruled out. Volatility in market indicating swing market. In this type market right entry is important and learn how to use trailing stoploss to increase and protect profit. So In 2nd half(after 2 pm) Nifty may move above 11000 and you should track to go with the flow. In weekly chart upper level is @11114. Track Europe market after 1.30 pm for next trend of Nifty.
- Bank Nifty Trend— EOD chart shows, Bank nifty closed above upper Bollinger band. This is liquidity driven market before budget. Hourly chart indicates upper level is @27161. Expect profit booking from that level and swing market. Overall sentiment is positive. Bank nifty may try to hold above 27000 level. In 2nd half wait and go with the flow. Watch Europe market for further trend of Bank nifty.
Today Nifty Support is at 10924, 10893, Resistance is at 10999,11038
Today Bank Nifty support is at 26899, 26756 and resistance is at 27128, 27215