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Nifty Today 15th March 2017

Nifty Action March 15, 2017: Today was a day of consolidation after hitting life highs. Nifty trading between 30 points range throughout the session and finally managed to close flat as market as awaiting for FED outcome later today.

Technical set up: Nifty formed Doji pattern for the second day, Hope after Fed Outcome market can resume uptrend.

What’s the FII activity today: FII’s sold 236crores of Index futures and bought 1025crores in Index Option.

Nifty Spot: 9084.80 (-2.20)

Nifty Futures: 9109.30 (+6.30)

Support: 9060, 8980

Resistance: 9120, 9200

Technical Chart Pattern: Doji

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

Nifty Strategy: If any dip in the market due to Fed Outcome to the levels of 8980-9060 is a buying opportunity. Avoid going short in the market with any clear reversal signals.

Open Strategies

  1. Nifty Option Call initiated on 14-Mar-2017: Buy 9000 Call @ 145 – 150 TGT 230 SL 75
  2. Nifty Positional Callinitiated on 14-Mar-2017: Can go long in nifty for a target of 9200, 9350, 9600 levels with the stop around 8980 levels.

Disclaimer No Author at 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.

This post first appeared on My Financial Zone, please read the originial post: here

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Nifty Today 15th March 2017


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