Home News Indian Stock Market News Stock Market Daily Updates 4 March 2021-Nikhil Bhatt | Research Analyst – SEBI

Stock Market Daily Updates 4 March 2021-Nikhil Bhatt | Research Analyst – SEBI

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Stock Market Daily Updates 4 March 2021-Nikhil Bhatt | Research Analyst – SEBI

Expensive Dealer…

Bullish development was seen, the BSE Sensex and the Nifty Futures hit a excessive of 51539.89 factors and 15318 factors, respectively on the again of encouraging reviews that the federal government was contemplating slicing excise charges to curb rising gas costs within the coming days and in addition the third-quarter GDP figures have been higher than anticipated and the financial system was again on observe.

The Index continued to out-perform broader indices and creating a brand new excessive as bond yields stabilized in america, native financial information improved, spectrum auctions obtained response, and the vaccination course of within the nation progressed easily and big shopping for by FIIs.

Primary indices have nearly reached the excessive, in context with a bounce within the world and the home financial system. Interim corrections ought to be used to build up, because the broader setup stays constructive, the market might flip a bit risky within the quick time period, as it is going to be troublesome to take care of the momentum given necessary upcoming occasions so index is prone to commerce risky.

In my view, Markets will proceed to take cues from world friends, in absence of any main home occasion, apart from, bond yields and the Covid state of affairs in India would stay on traders’ radar.

Merchants might stay cautious as volatility is anticipated to spike up as a result of world markets selloff which might outcome into a probable pause within the ongoing momentum & outcome right into a consolidation, we thus recommend limiting bare leveraged positions and utilizing additional decline so as to add high quality shares.

Technically, we really feel that the Nifty must cross the extent of 15373 factors, and the development continues to be revenue reserving on each rise and the subsequent vary to be watched out for is round 15170 to 15373 factors and this may be achieved within the quick time period. The speedy assist for the Nifty future are positioned round 15202 and 15170 factors.

Ø INDEX MOVEMENT – 04.03.2021

  • Nifty Future closed @ 15300 as on 03.03.2021

Nifty Future stood at 15333 – 15373 Level; above which different resistance ranges are at 15404 – 15434 Level with extremely Unstable Pattern,

Nifty Future has Draw back assist ranges are at 15232 – 15202 Level; below15202 Level, different assist ranges are at 15173 – 15105 Level.

I’m constructive for the subsequent bullish development solely above @ 15404 Level however be with the development. Let the market determine additional strikes.

Relating to Long run positions, it’s preferable to stay cautious now…!!

If Nifty Future crosses @ 15404 Level, once more then the higher facet goal is kind of excessive and it could contact @ 15434 Level within the quick time period

  • Financial institution Nifty Future closed @ 36495 as on 03.03.2021

Financial institution Nifty Future has resistance at 36575 – 36636 Level; above which different resistance ranges are at 36707 – 36838 Level with extremely Unstable Pattern,

Financial institution Nifty Future has Draw back assist ranges are at 36360 – 36160 Level; below36160 Level, different assist ranges are at 36006 – 35909 Level.

I’m constructive for the subsequent bullish development solely above @ 36838 Level however be with the development. Let the market determine additional strikes. 

Shopping for is recommended in falls solely…and it’s nonetheless a greater technique within the given State of affairs…!!!

Relating to Long run positions, it’s preferable to stay cautious now.

If Financial institution Nifty Future crosses @ 36838 Level, once more then the higher facet goal is kind of excessive and it could contact @ 37007 Level within the quick time period.

Be aware :- Earlier than Act please refer & agree Phrases & situations, Disclaimer, privateness coverage & settlement on www.nikhilbhatt.in

Disclaimer: The views expressed within the article above are these of the authors’ and don’t essentially symbolize or replicate the views of this publishing home. Until in any other case famous, the creator is writing in his/her private capability. They aren’t meant and shouldn’t be thought to symbolize official concepts, attitudes, or insurance policies of any company or establishment.


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