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Nifty - Near its strongest support 14000

For Nifty, this week is a small week, where Monday and Friday is a holiday in India. Only 3 days a week could be a directionless week.

And when there is no clear direction, either market can go in range-bound or could try to go southwards.

Nifty is already in the oversold zone for the immediate period, but still, there is room to move down, until touches 14000 or 13800 odd levels.

For this week out view is from range-bound level to bearish.

Friday 26th March we with hopes to re-bounced, but it seems that now the scenario changes. No doubt we can re bounce, but the most workable strategy would be "sell on rising".

Option premiums are not so great this week, So option buyers are losing a lot of their money due to holidays. Options sellers are the clear winners this week.

Just remember Nifty would be weak and will shift in the hands of bears if it breaks 14000 and to be in the hand of the bulls, it needs to cross 15500, which is too far for this week.

We will suggest sticking trade with the best top-notch companies of each sector. No need to take a big risk this week. This week is not to build your portfolio. Just wait and watch.

Happy Trading

Keep Investing


Neeraj Bhatia

Managing Director

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