A closing near strong support levels always signifies weakness in the coming days.
As we suggested Nifty weakened just on the very first day of new financial year (in terms of pay-out).
We expect Nifty to remain rangebound or weak in the coming annual result season how good the companies results are posted as most of the gains are already discounted.
Its time to say goodbye to the market and do only day trading or trading with very short term outlook.
| Important Nifty Levels for 31st March | ||
|---|---|---|
| Nifty Pivot | 5286 | |
| Support | ||
| 5244 | 5225 | 5208 |
| Resistance | ||
| 5279 | 5303 | 5331 |
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