Firstly watch valid break out of last 3 sessions trading range
Technical Analysis and Market Outlook
(28-03-2016)
(28-03-2016)
As now out of station and will be able to reach my native place at 06:00 tomorrow therefore updating only tomorrow Outlooks without charts analysis.
Next supports are between 7630-7670 which should be firstly watched today for the confirmation of today started down moves continuation/completion.
Supports between 7630-7670 were told and Nifty got support at 7670.60 that day as well as closed flat after some recovery from lower levels.
Next resistances of Nifty are as follows:-
1- 7766-7835
2- 7912-7960
Next supports of Nifty are as follows:-
1- 7630-7670
2- 7518-7568
3- 7410-7443
3- 7347-7375
As Bearish Hanging Man Candlestick formation on 23-03-2016 therefore view will be cautiously Bullish and firstly valid break out of last 3 sessions trading range(7618-7728) should be watched in the coming 1/2 sessions for next decisive moves confirmations.