Bank Nifty
Bank Nifty remained calm from last two sessions and traded in a range of 37581-38421. Bank Nifty should break any of these levels for momentum to continue. Trading above 38421 indicates upside till 39000. Trading below 37581 can lead to a fall till 37000.
Nifty
Nifty has a resistance at 17420 and a support at 17250. Trading above 17420 can lead Nifty towards 17500, 17600. But trading below 17250 can lead to further weakness and Nifty can test 17100. With a slightly negative chart formation, weakness in Nifty looks more probable, but tomorrow's session will highly depend on the announcements made in Budget by FM Sitharaman.
Stocks to watch out.
1. ONGC (LTP 172.60)
From last couple of trading sessions ONGC is testing the resistance level (173), with heavy volumes so if ONGC breaks 175 it can trigger buying momentum and it can lead ONGC towards 190, 200. It has a support at 160.
Disclaimer
All the information is from source deemed to be reliable but there is no guarantee to the accuracy. Information is for EDUCATIONAL PURPOSES ONLY and is not intended to give specific trading or investment advice. past performance is no guarantee of future performance. Investment/ trading carries significant risk of loss and you should consult your financial professional before trading or investing. Opinions are given based on widely-accepted methods of technical analysis other methods of analysis. No specific recommendation is given to buy, hold or sell of these markets/securities or exchange traded funds related to these markets.
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