Market Outlook of 16th Mar, 2018.
GFS Wealth Creators Suggestion and View on Indices.
Market choppy and inside range;
support at 10340 with resistance at 10440.
Nifty formed an inside bar, as it traded inside the trading range of the last session. It failed to surpass previous day’s high of 10420 and corrected towards 10346.
Nifty finding multiple hurdles near 10440, while a hold below 10340 could start a decline towards 10276 then 10200 and 10150.
Bank Nifty failed to surpass 24950 zones and corrected towards 24750.
It found a multiple major hurdle at 25000 levels.
Now it sustains below 24750 then weakness could be seen towards 24500 then 24350.
If 25000 crosses decisively then 25500 is not ruled out.