March 20, 2017

NIFTY Chart Analysis

  • Nifty weekly chart staying above 8900 will continue to favour bulls.
  • Month candle too shows a bullish March candle so far. March closing above the shaded resistance level will strengthen bulls further. Bears must deny this event from happening to avoid a bigger bullish move.
  • Daily chart shows a crucial GAP in chart. If correction continues this GAP can act as support. Bigger bearish possibilities only if Bears are able to close price below this GAP.