March 9, 2023

Stock Market Live: Sensex and Nifty 50 likely to open flat tracing global cues

Editor’s Take: Anuj Singhal’s View On The Market

MARKET PASSES TEST
Indian market had a fantastic day yesterday
Bank Nifty led sharp recovery, mkt ended at high
Expiry today, market may see some volatility
Nifty very close to negating bearish trend
Indian market will now fall only on a big negative news
Market has been resilient to weak global cues

NIFTY OUTLOOK
Nifty faces very strong resistance now
17,825-17,850 very tough resistance zone
Bigger fall of February started from 17,825-17,850
Nifty’s 50 DMA also placed at 17,850
Highest Call build-up at 17,800, premium Rs 20

BANK NIFTY OUTLOOK
Bank Nifty remains the strongest index
All dips on Bank Nifty have been bought
If close of 41,800 achieved, 42,800 will open
Bank Nifty will be weak only below 41,350

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