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Monday, March 23, 2020

NIFTY PLUNGES -13% | What should your strategy to trade on 24-03-2020 | IS BOTTOM CREATED! | Today's Market Movers and News of the Day | Levels for Nifty and Banknifty for 24-03-2020 | Not provided calls for today because of we aren't got proper Technical Analysis

                                                                                                                                  Date: 23-03-2020

Subject: 1.What should your Strategy to trade on 24-03-2020
  Is Bottom Creation Completed for Nifty?

2. Today's Market Movers and News of the Day

3. Levels for Nifty and Banknifty for 24-03-2020

4. Didn't provided calls because we aren't got Proper Technical Analysis.


Hey My Brothers & Sisters,

              Hope your Day spends Good, Let's come to our Today's topics as I mentioned in Subjects.

1.What should your Strategy to trade on 24-03-2020
  Is Bottom Creation Completed for Nifty?

 Nifty 50 closed DOWN by -1135 Points (-13%)

        Analysing Chart of Nifty 50 : 15 min Time Frame





  Presenting the Chart of Nifty 50 of 15 Min time frame

> As we all know that the Corona Virus Pandemic is now spraid all over india and Each and Everyday there are new cases comes Positive.

> This thing makes a Panic in stock market and Nifty given gap down opening today morning Down by -812 Points.

> It was almost -9.30 Percent, At 10% there is a Circuit breaker for Nifty, Around 9.45 AM we have Hitted a circuit breaker and Market Halts trading for 45min, It's a worst schenario where we are hitting circuit breaker 2nd time in this Rally.

> As per technical views Nifty has opened at 7933 today Morning. As we mentioned the Levels in previous Blog that 7900 is a Major support for Nifty.

> By opening price Nifty has tested the Upper resistance of 8088 and then tested 7900. After that we have Hitted a circuit breaker of 10% and Exchange halts for 45 Mins.

> Then Market again Opens at 10.58 AM, Below the Major support of 7900, tested the level of 7900 and then Rushed to lower levels as mentioned in Previous blog.

> Rushed to lower levels , Breaks the Important level of 7700 and then made 7581 as Day's low price.

So Now, What's the next? What's going to happens on 24-03-2020? What should be the Levels for 24-03-2020?

Let's discuss the Levels. The Final levels we will Provide at the End of the Blog.

> As mentioned in the above image there is a Major support level found at 7508.

> Today Nifty has breaks major supports and given lower levels. But If still there isn't any good news comes for Corona pandemic then we can see lower levels till 7200-7000-6800 Respectively.

> As RBI has declared Rs. 10000 cr Relief for stock markets, so it can pull out markets from the sell off, We may see some Bounce back from current position of market if RBI takes action.

> Upper resistance level is listed at 7707 and then 7900, If the level of 7707 may break by Nifty with high volume then we can see the targets till 7900 and Above, If and if RBI takes place.

> Let's see how's the Global markets, Dow jones and SGX Nifty reacting in their Trading sessions.


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 24-03-2020.

 Now Let's Talk about Banknifty Chart Analysis.  


        Banknifty closed DOWN by -3399 Points (-16.73%)



Presenting the Chart of Banknifty 15 Min time Frame. 

> As Nifty has given gap down opening by -812 Points, Banknifty also has given gap down opening by -1961 Points.

> As Nifty has crashed down today by -13 Points, as we know that Banknifty is Most volatile index ever, so it has crashed down by -16% today and closed at 16917.

> As per technical views opening price of banknifty was 18311 and after that it has just tested the resistance level of 18730.

> As mentioned in above image 18175 was a major support for banknifty, After successfully breakdown of the same, Banknifty has sleeps to 17573, In between we have faced the Halt due to 10% circuit breaker by Nifty.

> After the breakdown of 17573 Banknifty fall down to the next level of 17015, and then given closing at 16917.

So What's the Next targets and Levels for the Banknifty ?

> As 16917 is a today's closing, Upside the 17015 level is minor resistance and the second resistance is 17573.

> Support level of 16209 is a Major support for the Banknifty, 16200 is a far from today's closing price.

> If Nifty falls down more and more then Banknifty can give 16200 target and then 15800 and 15400 can downside target achievement possible.

> So keep in mind these levels and put it on your charts, you will get better results with the same.

             Sensex closed DOWN by -3934 (-13.15%)


  As Nifty and global markets are in Blood bath and crashing more and more then Sensex also followed and closed by -3934 Points today.


Now Let's Move to our second subject.


               2.  Market Movers and News of the Day. 

         HDFCBank breaks a Major support by opening



                     Reliance breaks Major support today


                    
                 HDFC breaks a Major support again



                        INFY breaks a Major support



                   KOTAKBANK breaks a Major support



              Mentioning some more Market Movers below

1. HUL
2. Bharti Airtel
3. LT
4. Titan
5. TataSteel

Let's move to the News Of The Day

> Shivraj Singh Chauhan takes oath as Madhya Pradesh CM 

> India Suspends Domestic flights from 25 March

> Gujarat state going under LockDown from Midnight 12 AM

>Crude is now cheaper then water. Crude price crashed more than 6% today.

> Globally more than 15000 people dies due to COVID-19



             3. Levels for Nifty and Banknifty for 24-03-2020.

1. For Nifty Resistance No.  (1) 7707 (2) 7800 
    For Nifty Support No.  (1) 7580 (2) 7500 (3) 7450
More down side target possible.

Market is totally Unpredictable nowadays. Strictly follow levels.

2. For Banknifty Resistance No   (1) 17015 (2) 17570
    For Banknifty Support No. (1) 16650 (2) 16200 (3) 15800


Market is totally Unpredictable nowadays. Strictly follow levels.

     
We haven't provided calls today because we didn't get proper Analysis to make a Levels.

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 So that's it for this Blog guys, Hope you Like our today's Content and Hope the Levels Provided to you will help you and Give you a Little bit of idea.



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+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 | Today's Market movers and News of the Day | Levels for Nifty and Banknifty for 26-03-2020

                                                                                                                           Date: 25-03-2020...