Date: 24-03-2020
Subject: 1. NIFTY closed UP by +190 (2.51%) , What's the Next scenario to trade for 25-03-2020?
2. Key Points of today's Speech by FM Nirmala Sitaraman
3. Whole India going under Lockdown from Midnight , till 15 April
4. Today's market movers and News of the day
5. Levels for Nifty and Banknifty for 25-03-2020.
Hey My Brothers & Sisters,
Hope your Day spends Good, Let's come to our Today's topics as I mentioned in Subjects.
1. NIFTY closed UP by +190 (2.51%) , What's the Next scenario to trade for 25-03-2020?
Nifty 50 closed UP by +190 Points (2.51%)
Analysing Chart of Nifty 50 : 15 min Time Frame
Presenting the Chart of Nifty 50 of 15 Min time frame
> Yesterday we mentioned in the Blog that we can see recovery in Nifty, As we all knows that Nifty has opened with Gap up by +238 Points.
> Opening price of Nifty was 7848, Then Nifty has given more and more volatality for today, As we seen made low of 7512 and then bounce back from there and make a rally towards 8000.
> As per Technical views Nifty opens at 7848 then tested the level of 7900 and then Breaks it's major support of 7707.
> After the breakdown of 7707 with High volume Nifty has tested the support of 7500 Respectively as we mentioned in the previous Blog.
> From 7500 Level Nifty has bounced back and then breaks the Major resistance level of 7707 and 7901 Respectively with high volume.
> It's makes rally towards 8000 and then consolidate at the level of 7901. and after breakdown of the same given closing at 7801.
So Now, What's the next? What's going to happens on 25-03-2020? What should be the Levels for 25-03-2020?
Let's discuss the Levels. The Final levels we will Provide at the End of the Blog.
> Nifty's current price is now at 7801, between two important levels.
> 7901 active as a major resistance and 7707 is active as a Major support.
> Breakout of 7901 and 8000 with High volume can achieve the target of 8100-8200-8300 Respectively.
> Successful breakdown of 7707 can achieve the downside the targets of 7508 which is active as a Major support.
> Dow jones is running in green now at almost +9%, +1600 points, If SGX also should in Green tomorrow morning then we can see More positive movement in Nifty.
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 25-03-2020.
Now Let's Talk about Banknifty Chart Analysis.