IMPORTANT NIFTY LEVELS WATCH FOR 18/03/2016

IMPORTANT NIFTY LEVELS WATCH FOR 18 March 2016

Support 1 (S1) – 7480

Support 2 (S2) -7440 to 7450

Support 3 (S3) -7405

Resistance 1 (R1) -7540 to 7550

Resistance 2 (R2) -7570

Resistance 3(R3) -7585

If Nifty goes above 7550 and defends it then the it will add further strength. Long it with the target of 7570-7585-7630-7650.

If Nifty takes resistance at 7550 to 7540 and starts trading below 7500 then short it  with the target of 7480-7450 .

Watch out for 7440 level as it would be the stop position of bulls. Trading below 7440 will be a more bearish signal with the target of 7405-7380-7350.

 

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