Friday, March 28, 2025

NIFTY OVERVIEW 28/3/2025

 


This image is a market outlook report for the NIFTY index from LKP Securities. Here’s a breakdown of its key points:

  1. LKP View (Market Commentary) Market Movement: Nifty remained sideways after a strong opening.

Technical Indicator: The index found support near the 100 EMA (Exponential Moving Average).

Short-Term Outlook: If Nifty sustains above 23,600, it may rise toward 23,800.

Support Level: Downside support is at 23,400.

  1. Market Data Nifty Spot Price: 23,592 (up 0.45%).

Nifty Futures Price: 23,778 (up 0.41%).

Premium/Discount (Pre/Dis): 185.7 points (Nifty Futures trading above spot price).

  1. Daily Pivot Levels These levels help traders identify support and resistance:

Resistance (R1, R2): 23,688, 23,784

Pivot Point (PP): 23,550 (Key level for direction)

Support (S1, S2): 23,454, 23,316

  1. Technical Chart A candlestick chart shows price action with trendlines.

Indicators like RSI (Relative Strength Index) at the bottom gauge momentum.

Conclusion Bullish Sentiment: If Nifty stays above 23,600, a move to 23,800 is likely.

Risk Level: If it drops below 23,400, downside pressure may increase.

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NIFTY OVERVIEW

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