It again showed strength near 5100 level and bounced back from there.
So punters are clearly playing with mid and small cap stocks.
There is hardly any momentum in the large cap space and penny stocks are making new highs every day.
Strong advanced tax data by leading firms is encouraging and people built up many longs at lower levels.
We advise investors to book profit in long position and keep minimum exposure to the market as we may see some correction from these levels.
| Important Nifty Levels for 16th March | ||
|---|---|---|
Nifty Pivot | 5125 | |
| Support | ||
| 5111 | 5089 | 5068 |
| Resistance | ||
| 5156 | 5179 | 5196 |
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