Date: 25-03-2020
Subject: 1. +500 Points Upside Rally by Nifty and closed @8317, Then How will you trade on Expiry Day (26-03-2020)! | What is reason behind this sudden Rally by Nifty !
2. Today's Market Movers and News of the Day.
3. Levels for Nifty and Banknifty for 26-03-2020.
Hey My Brothers & Sisters,
Hope your Day spends Good, Let's come to our Today's topics as I mentioned in Subjects.
1. +500 Points Upside Rally by Nifty and closed @8317, Then How will you trade on Expiry Day (26-03-2020)! |
What is reason behind this sudden Rally by Nifty !
Nifty 50 closed UP by +516 Points (6.62%)
Analysing Chart of Nifty 50 : 15 min Time Frame
Presenting the Chart of Nifty 50 of 15 Min time frame
> As Dow Jones has been closed UP by over +2000 Points in it's Last Trading session. By following this and Positive action by RBI Boost up the Nifty today, Hence the Nifty given Gap down Opening today morning by -65 Points,
> Nifty opens at 7735 today morning, Given an awesome Upside rally till the closing and given 8376 as Day's High price.
> As per Technical views Nifty has opens 7735 and then suddenly tested the Resistance level of 7901.
> After tested 7901 Nifty comes down between the range of 7901 and 7707 again and Consolidate their over 1 hour.
> After consolidation between the range Nifty has breaks again the Same resistance of 7901 and makes Upside rally, As we mentioned that the 7901 is a Major resistance Level for Nifty.
> After the Breakout of 7901 Nifty has started to climbing up for the Next target achievement of 8088, and also suddenly breaks same level with High volume.
> After breakout of 8088 Nifty climbed up to achieve the New level of 8318, After the successfully breakout of the same level and made high 8375 as Day's high price.
> After reached the Level of 8318 Nifty has stopped it's upside rally and then given final closing at 8317 near the Major Resistance level 8318. Just 1 point far.
So Now, What's the next? What's going to happens on 26-03-2020? What should be the Levels for 26-03-2020?
Let's discuss the Levels. The Final levels we will Provide at the End of the Blog.
> Nifty currently closed at 8317, Under the Major resistance level of 8476.
> 8088 is active as an Major support level. Because Nifty is breaks it with High volume today.
> Dow jones is running in Green now, As we are going to consider it's closing. Let's see what happens in Dow Jones trading session today.
> If Nifty breaks the level of 8476 with High volume then we can see more upside rally till 8555-8725.
> If Nifty breaks a Major support of 8088 with High volume then again it will sleep below 7900-7700 respectively.
> As Tomorrow the Monthly expiry for all Futures and Options, So we may see some downfall as Selling pressure of Futures and Options.
> But during the COVID - 19 Pandemic, in between we are getting some positive news. (Will post in News for the day section) . And also RBI Action is also supports Nifty to boost up.
> So the all Positive news are going to Boost up the Nifty as well. Let's see what happens on Expiry day.
So It's Our Technical analysis Views about Nifty 50 for Upcoming Trading sessions.
At the End of the Blog we will provide Levels for Nifty and Banknifty for 26-03-2020.
Now Let's Talk about Banknifty Chart Analysis.