Nifty Daily Analaysis For 01 Apr 2022

On 31 Mar 2022, Nifty opened up on a positive note and tried hard to achieve 17600 level but Bears come into action and dragged Nifty to the support zone of 17450-17500 level where it made a low of 17435 and shown some recovery. After a 3 days bull run, Markets took some pause on monthly expiry and made a red candle on daily chart.

Bulls managed to save the level of 17400 which now comes as a crucial support for markets to remain in positive mode followed by 17350.

FII continue to buy in cash as well as in F&O. Today FII bought around ₹3088.73 crores in Cash market which is a positive sign for coming days but FII LONG comes to 73.64%. Future data is positive and Options data is mildly negative for 01 Apr 2022.

For 01 Apr 2022, there is no clear direction for markets so wait n watch for some levels to break on either side. Market will remain positive until it holds level of 17350 and further buying to be carried out once Nifty manages to break 17530 on upside.