Stock Market Updates For March 6th, 2014…

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Market Trend

NIFTY – CMP 6328
Synopsis

Nifty opened with a positive bias & witnessed buying on dipsleading the Index to finally close 0.5% positive.
Going forward, Till Nifty holds 6320, it can move upto 6380-6390 zone where it will face high resistance.
If Nifty breaks 6320 support zone, then 6240-6250 would beretested.
Daily Momentum is in positive territory while Weeklymomentum is in negative indicating choppy price action athigher levels.

Bank Nifty – CMP – 11098

Synopsis

Bank Nifty opened with a positive bias & witnessed buying ondips leading the Index to finally close 1.55% positive.
Going forward, till it holds 11,050, it can move upto 11,400zone where it will face high resistance.
If breaks & sustains below 11,050, would fall upto 10800-10850.
Daily Momentum is in positive territory while Weeklymomentum is in negative indicating choppy price action athigher levels.

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