Nifty Trading Guidance & Future Prediction

NIFTY Spot View: 21/03/2024
CMP: 21839.10
Moving AVG (EMA) 20 Hour & 40 Hour: 21887 & 22967
Moving AVG (EMA) 20 Day & 40 Day: 22080 & 21944
Support & Downside Range: 21814--21710
Resistance & Upside Range: 22040—22126—22215--22256
Short Term Trend Reversal Level: -- 22526

Don't forget to check our bank nifty option tips and start making profit on a daily basis.

Trading View Summary:
•  Yesterday we saw a very strong up move in across the board in US market in all index after FED outcome & we may see its effect in our market in today's opening as we are expecting a gap up opening.
•  In today's intraday trading session key level to watch is 21814 support, after opening if this support manage to hold than we may immediate see upside move towards 22040—22126 minimum & maximum 22215 to 22256 as counter trend bounce of recent correction.
•  Now downside 21710 which is yesterday low has become a new crucial support level to watch out.

Nifty Closing Guidance for 21/03/2024: CMP 21839.10
•  Nifty low probability close remains at or below 21931 spot levels.
•  Nifty high probability close remains at or above 22125 spot levels.

Key stock updates 

🔸 Crompton Greaves 

 

Crompton strengthens its sustainability footprint in the agricultural sector, securing its fourth consecutive order for solar water pumping system from HAREDA, Haryana under PM-KUSUM Scheme 

 

🔸 Uno Minda Limited 

 

The Company has invested a sum of Rs. 6 crores by way of subscription to 60,42,060 Equity shares of Uno Minda Buehler Motor Pvt Ltd allotted today at a face value of Rs. 10/- each on right issue basis  

 

🔸 JSW Infrastructure Limited 

 

The Company has achieved a significant milestone as total cargo handled on consolidated basis has crossed 100 MMT as on date for the first time  

 

🔸 RVNL 

 

The company has emerged as the lowest bidder for a project worth Rs. 167.28 crore of SER HQ-Electrical/South Eastern Railway 

 

🔸 Wipro 

 

The company appointed Anne-Marie Rowland as CEO of Capco effective April 1. 

 

🔸 TVS Motor 

 

The company approved the issue of cumulative non-convertible redeemable preference shares up to Rs 1,900 crore via bonus. It has appointed Vijay Sankar and Shailesh Haribhakt as independent directors, effective March 20 and April 1, respectively  

 

🔸 Kansai Nerolac Paints 

 

The company has opened a sales depot in Kannur, Kerala. 

 

🔸 Cyient 

 

The company's JV with HAL-Infotech HAL-filed an application initiating the corporate insolvency resolution process before NCLT, Bangalore Bench.