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Nifty Prediction Today 14th March 2024. Stay Out of the Market.
Nifty fall sharply on Wednesday falling below the major support level of 22,000, but you need to be cautious for today as Nifty may trade flat as it tries to reclaim 22,000 level.
Note from Raaz Aryan,
I appreciate myself for such an Accurate Prediction but if you are a regular reader of my blog, then I expect a favor from you, that at least you can share these Prediction articles on your Social Media, WhatsApp group, or with Friends who trade, because your single share gives me the confidence to write more such articles.
It takes a lot of technical research and also I am busy in surfing the web for the News that may affect the Market so that I can write the most accurate prediction on the web.
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Raaz Aryan /?
Indian Benchmark Index including Sensex, Nifty, and Bank Nifty all experienced a major fall yesterday as we saw selling in Index heavyweights including Reliance Industries, TCS, SBI, and also all the major sectors ended in Red yesterday except FMCG.
Nifty tries to break the nearby resistance after the moderate CPI data but is unable to hold the positions and falls sharply, along with the Nifty Midcap and Smallcap Index which fall more than 4% and 5% respectively.
Any way Nifty is below the 22,000 level, so we are expecting Nifty to take support at the 22,800 level for today, or it may remain flat for the day as today is the weekly expiry of Nifty 50.
Nifty Prediction Today
As we predicted yesterday, the Nifty fell but too badly, more than our expectation, Anyway as it turns bearish because of the heavy sell of in the Midcap and Smallcap stocks, including some of the Index heavyweights including Reliance, and TCS, we are thinking of some more fall for today for Nifty.
So for Today, we think Nifty will open flat, but it may fall further taking support at its Nearest support level of 21,900 and then 21,800 but if it manages to stay above 22,000 then we can see Nifty trading flat for the day, as today is the weekly expiry of Nifty 50 and RSI is also in the Oversold Zone, hence we may see a range bound market for today.
Nifty Support and Resistance for Today
Nifty is currently trading below its major support level of 22,000 but it may reclaim this level on Thursday, maintaining it as a crucial support level. anyway, in the lower side Nifty has an immediate support of 21,900 followed by 21,800, and on the upper side, 22,110, 22,230, and 22,500 works as resistance for Nifty.
Here is the OI data and PCR of the Nifty for today,
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Nifty Support levels
S1 – 21,900 (immediate Support)
S2 – 21,800
S3 – 21,700
Nifty Resistance Levels
R1 – 22,100 (Current and important Resistance)
R2 – 22,230
R3 – 22,500
How to Trade in Nifty Today
We suggest you to, stay out of the market for today, as we don’t see any major move in Nifty for Today, as there might be a trap getting ready for retail traders.
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the data after analyzing the Market.
Happy Trading 🙂
