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Nifty Today 14th March 2017

Nifty Action March 14, 2017: Today was a milestone day in Indian Market. Nifty hitting all time high @ 9122.75 and closing above 9000for the first time on back of election results.

Technical set up: Nifty showed a gap up opening of 160 points and continue to push further to hit the all-time high @ 9122.75 and then bears start to take profit at high levels which dragged nifty to 9060.50 and managed to close at 9087.00 which is near the opening price of 9091.65. Thus forming a Doji pattern which shows indecisive at higher levels.

What’s the FII activity today: FII’s bought 1837crores of Index futures and also 3388crores in Index Option, which strongly suggest they are long in the market even though Fomc Meeting this week.

Nifty Spot: 9087.00 (152.45)

Nifty Futures: 9103.00 (144.30)

Support: 9060, 8980

Resistance: 9120, 9200

Technical Chart Pattern: Doji

Events to watch:  FOMC Meeting outcome on 15-Mar-2017

Nifty Strategy: Even though indecisive at the high levels, FII”s data suggests market can go long, so every dip is a buying opportunity. Avoid going short in the market any clear signals.

NiftyPositional Call: Can go long in nifty for a target of 9200, 9350, 9600 levels with the stop around 8980 levels.

Nifty Option Call: Buy 9000 Call @ 145 – 150 TGT 230 SL 75

Disclaimer – No Author at myfinanicalZone.com is registered with SEBI or any regulating authority as a Research Analyst or an Investment Adviser. Please Consult Your Investment Adviser before making any Investment/Trading decisions based on content posted in this Website. Here we write only what we do and all information posted in this website is for Educational purpose only



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Nifty Today 14th March 2017

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