|Market out look dated 7th March 2018
Sell – Sell – Sell
Exit All Mutual Funds Equity Scheme – Hold SIP (Money shift to liquid funds)
Nifty Will correct another 1000 points and above.
Bank Nifty will correct 2000 to 3000 points in near term.
As we are continue mentioned in this column that any rise or pull back rally to excellent selling opportunity in market and today market open with up side gap around 80 points and unable to sustained and finally big sell off see resulted almost wipe out more 110 points and closed below recent swing low 10276 which indicate another 300 points down are confirmed. Over all trend turned bearish and we again advise to our all readers to exit long and fresh short position. Further please also exit your all Mutual Fund Equity scheme whereas you are getting good profit at the current level also. Market likely to be correct another 1000 points and above in Nifty and Bank Nifty 2000 to 3000 points likely. Further please also noted that do not follow any view of TV Channels and Anchor who are on daily basis recommending to buy on decline and till date no one are saying to exit and seating a cash with vested interest.
Nifty : Decisive break down recent support level 10276 looks more down side and lower level target 200 DMA which is placed at 10100, thereafter 10074-10033 once closed below these level down side get open another 400 points. Resistance continue 10330-10400 10430.
Bank Nifty : Finally break down 24800 and also closed below 200 DMA. Over all trend is bearish and more pain in coming days. Time being consider resistance 24800-25200 range and lower level support visible around 23600 which is last leg of bull market support, thereafter it will test in few months 20000 +.
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