Nifty remained volatile on the last day of the March F&O expiry, March 29. However, the overall trend has not changed as the benchmark Nifty settled below the resistance level of 17,250. The critical short-term moving average, the 50 DMA (days moving average - 17,571), is sitting well above the current value of the index
The ongoing sideways trend may persist until there is a decisive breakout above 17,250. A decisive breakout above 17,250 may take the index for a ride to the 17,500–17,600 zone, where bears will be waiting.
On the lower end, 16,900 may continue to act as crucial support, where bulls have placed a tough guard. A decisive fall below 16,900 may take the Nifty towards the lower levels.
The ongoing sideways trend may persist until there is a decisive breakout above 17,250. A decisive breakout above 17,250 may take the index for a ride to the 17,500–17,600 zone, where bears will be waiting.
On the lower end, 16,900 may continue to act as crucial support, where bulls have placed a tough guard. A decisive fall below 16,900 may take the Nifty towards the lower levels.
Trade closed: target reached