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Stock Market Daily Updates: 18 March 2021

Nifty Future has Downside support levels are at 14707 - 14676 Point; below 14676 Point, other support levels are at 14636 - 14606 Point.

Photo Credit :

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The decision to lockdown on the economic front could affect market sentiment. So in the coming days, the economy and the Indian stock market may see a major upheaval.

Dear Trader…

On the third day of the week, the Indian stock market bullish run stopped at a red mark due to unprofitable selling from higher levels. The crash in benchmark indices today can be attributed to the waning interest of foreign institutional investors in the Indian market. Fund inflows from FIIs have slowed in the last two sessions.

Domestic markets tumbled in line with global trend triggered by a sharp rise in bond yields. Increasing geopolitical tension between the US and Syria aggravated the selling. A concern over inflation in the US is the reason behind the rising of bond yields.

A new and faster-transmitting strain of the virus in the UK is an area of concern. This has led to further restrictions on economic activity. Acceleration in the number of cases in the US and poor economic data are other dampeners. High valuation continues to be a concern in India. But the power of FII-driven liquidity is overwhelming all negative news. Investors should exercise caution.

FII and FPIs, on Wednesday saw a net purchase of Rs 2625.82 crore in the cash segment. A total of Rs 7347.39 crore was sold against a total purchase of Rs 9973.21 crore. Domestic institutional investors today saw a net sale of Rs 562.15 crore in the cash segment. A total of Rs 6436.59 crore was sold against a total purchase of Rs 5874.44 crore.

Instability in the Indian stock market has reached a climax, with all reports on the economy being negative. Even at this time some profit booking is taking place, as the levels are high, the stocks have risen very fast.

Broader global markets were down, as investors waited to see whether the U.S. Federal Reserve would signal a faster path toward policy normalization than previously expected.

There are a number of challenges in getting the economy back on track in this current situation. The Indian stock market has been booming for a long time. The possibility of a decline in the Indian stock market cannot be ruled out as the situation worsens in the coming days as the Corona epidemic re-emerges in India.

The decision to lockdown on the economic front could affect market sentiment. So in the coming days, the economy and the Indian stock market may see a major upheaval.

Ø Nifty Future closed @ 14771 as on 17.03.2021..!!

Nifty Future has resistance at 14808 – 14838 Point; above which other resistance levels are at 14888 - 14909 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 14707 - 14676 Point; below 14676 Point, other support levels are at 14636 - 14606 Point.

I am positive for the next bullish trend only above @ 14808 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 14808 Point, again then the upper side target is quite high and it may touch @ 14888 Point in the short term...!!!

Ø Bank Nifty Future closed @ 34360 as on 17.03.2021..!!

Bank Nifty Future has resistance at 34474 – 34606 Point; above which other resistance levels are at 34676 – 34808 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 34008 - 33808 Point; below 33808 Point, other support levels are at 33676 - 33303 Point.

I am positive for the next bullish trend only above @ 34676 Point but be with the trend. Let the market decide further moves.

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 34676 Point, again then the upper side target is quite high and it may touch @ 34808 Point in the short term...!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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