Daily

Daily Market Update Report 26-03-2020


Nifty opened higher traded in a narrow range with positive bias to close in green. On the daily chart, we are observing a narrow range body formation which suggests indecisiveness prevailing at current level. In coming trading session it is important that Nifty has to trade and close above 8749 level then it is likely to test 8900 – 9100 levels. On the downside, 8500 – 8400 remains crucial support.

We maintain our stance that temporary bottom may be in place and a pullback rally is in offing, However, trend remains down hence at higher levels we may witness selling pressure. Hence cautiously positive approach should be adopted at current level.

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