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DAILY MARKET ANALYSIS

26 Mar 2019

Market Overview
Nifty if remain above 11380 may hit 11520 soon!!

We have seen a strong bullish movementum in Nifty after it broke the level of 11,120 on daily chart every minor dip was a buying opportunity,In near term Nifty has an important resistance of 11450 & 11500 while on downside it has a strong support of 11350 & 11300

Recommendation:

It is advisabe for the traders to remain buy on dips if Nifty again retest the levels of 11380 on downside one should buy it for the upside target of 11480 & 11520 while on downside traders should maintain a stop loss of 11320.
Commodity Report
NICKEL FUTURES TRADED UP ON GLOBAL INDICATION, RISE IN SPOT DEMAND

Nickel prices traded higher on March 12 as speculators raised their bets amid a firming trend overseas and spot demand. Apart from increased domestic demand from alloy-makers, firmness in base metals overseas influenced nickel prices at futures trade

TECHNICAL OVERVIEW

After a upside trend now Nickel MCX March Futures has break the trend line and sustaining below it also it has break the support level of 900.00. So it is looking bearish on charts, if it breaks the level of 895.00 and sustains below it then it can test the levels of 875.00 & 861.00. On the upside if it breaks the level of 920.00 then it can test 935 & 949.00
InstrumentsSupport 1Support 2PivotResistance 1Resistance 2
Nifty1140011350115001155011600
BankNifty2940029300295002965029750
Gold3180031710318503196032050
Silver3820038000382803835038600
Crude40253980405040854125
Copper443.80440.00445.50448.90453.90
Nickel885.50875.00892.00900.00913.50
Equity Overview
Market Overview
Nifty if remain above 11380 may hit 11520 soon!!

We have seen a strong bullish movementum in Nifty after it broke the level of 11,120 on daily chart every minor dip was a buying opportunity,In near term Nifty has an important resistance of 11450 & 11500 while on downside it has a strong support of 11350 & 11300

Recommendation:

It is advisabe for the traders to remain buy on dips if Nifty again retest the levels of 11380 on downside one should buy it for the upside target of 11480 & 11520 while on downside traders should maintain a stop loss of 11320.
Commodity Report
Commodity Report
NICKEL FUTURES TRADED UP ON GLOBAL INDICATION, RISE IN SPOT DEMAND

Nickel prices traded higher on March 12 as speculators raised their bets amid a firming trend overseas and spot demand. Apart from increased domestic demand from alloy-makers, firmness in base metals overseas influenced nickel prices at futures trade

TECHNICAL OVERVIEW

After a upside trend now Nickel MCX March Futures has break the trend line and sustaining below it also it has break the support level of 900.00. So it is looking bearish on charts, if it breaks the level of 895.00 and sustains below it then it can test the levels of 875.00 & 861.00. On the upside if it breaks the level of 920.00 then it can test 935 & 949.00
Support and Resistance
InstrumentsSupport 1Support 2PivotResistance 1Resistance 2
Nifty1140011350115001155011600
BankNifty2940029300295002965029750
Gold3180031710318503196032050
Silver3820038000382803835038600
Crude40253980405040854125
Copper443.80440.00445.50448.90453.90
Nickel885.50875.00892.00900.00913.50

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