Fresh range, support and bounce back levels for NIFTY as it breaks 10000.
NIFTY to range 9750-10450 for a while. Our anticipated range of 10000-10200 for the NIFTY by the end of March shall remain.
Technically the trend is down on daily charts as 10000 is taken off. Any dip towards 9750-9800 is considered as a good accumulation zone. Good bounce towards 10220-10270 in less than two weeks can be expected.
On Weekly charts the market has entered accumulation zone, with support at 9700, NIFTY can bounce towards 10400-10500 in 6-8 weeks. It shall remain valid until 9700 holds.
Kindly use the information to risk manage your portfolio.