Nifty is likely to have a soft start on Monday. The levels of 15,830 and 15,885 will act as resistance points, while support will come in at 15,700 and 15,630.
Trade Setup: Nifty may make a technical pullback on Monday; stay away from high beta stocks
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Trade Setup: Nifty may make a technical pullback on Monday; stay away from high beta stocksBy
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Monday s session is likely to have a tepid start to the day. The levels of 14,680 and 14,735 will act as immediate resistance points, while support will come in at 14,550 and 14,480 levels.
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The pattern analysis shows that the index was very much within the falling channel formed after marking the high point at 15,431. Nifty is once again between its 50-, and 100-DMA at 14,782 and 14,459, respectively.
Sensex, Nifty Off Day s Highs Ahead Of Weekly Future & Options Expiry Share Market Updates: Six of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty IT index s 1.5 per cent gain.
Updated: March 10, 2021 2:02 pm IST
The Indian equity benchmarks came off intraday highs in noon deals owing to weakness in heavyweights like Reliance Industries, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and ITC ahead of expiry of weekly index futures and option contracts. Earlier in the day, Sensex rose as much as 405 points and Nifty 50 index touched an intraday high of 15,218. Buying in information technology shares like Infosys, TCS and HCL Tech were providing support to the benchmarks.