StreetView for 24th March

StreetView for 24th March

Before Indian markets open lets see what has happened in Global Markets :

Asian Markets were trading on positive side whereas European and US Markets closed lower.

Dow jones and SGX Nifty is trading flat in early hour trades after Yesterday’s lower closing indicating lower opening for Indian Indices.

US OIL is trading 1.4% up, US Dollar is firm whereas GOLD is trading flat in early trading hours.

Lets Look at the News :

  • India abstains in UN Security Council on vote on draft resolution by Russia on humanitarian crisis in Ukraine
  • US ready to hit back if Russia uses chemical, nuclear weapons
  • Biden in Europe for war summit, NATO bolsters troop presence near Ukraine

Technicals for Indices :

Both the indices closed lower in yesterday’s trade but held its lower support levels. Uncertainty is still around with Vix closing higher owing to global geopolitical issues and higher Crude Oil Prices.

If we look at Nifty Futures Levels it has managed to hold lower levels in yesterday’s trade. Today Nifty Futures may see support around 17170-17140 Levels. Break below these levels may change the view to bearish, on lower side it may get support at 16890-16930 Levels. Resistance for Nifty Futures may come around 17340-17370, 17430-17470 Levels.

Bank Nifty Futures have support near 36000-36050, 35890-35850 Levels. Break below 35850 can change the sentiment. Resistance at around 36740-36780 levels on higher side.

Bank Nifty

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Disclaimer: The views are in line with the pure chart study, no pre-defined geopolitical factors are considered. Also, we strictly advise not to take any positions just based on the above views. For regular intraday recommendations, you must have our premium subscription.

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