Market outlook of 28th Mar, 2018.
GFS Wealth Creators Suggestion and View on Indices.
Nifty gains continues as world markets join relief rally; April month likely to be much better , bullish and relief rally expected after 11% correction comes from high in March month.
Nifty index opened gap up, tested the support at 10141 and recovered towards 10200. However it got stuck in a range during the second half of the session and finally closed at 10184.
Now, it has to hold above 10141 to extend its bounce its bounce towards 10276 while on the downside, supports at 10080 then 10050.
If it starts to holding below 10141 then we would continue to be with major trend and avoid playing bounce.
Bank Nifty opened positive and consolidated in a 200 point range forming a small bodied candle. It has been forming higher highs – higher lows for last 3 sessions.
Now, it has to hold above 24350 to witness an up move towards 24500, while supports seen at 24200 then 24000.