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.
- Nifty Option Call initiated on 14-Mar-2017: Buy 9000 Call @ 145 – 150 TGT 230 SL 75
- 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.
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