Nifty Daily Analysis For 31 MAR 22

On 30 mar 2022, Nifty acted as per our expectation and open up on a positive note. As far as Markets maintain gap , it will remain in a positive territory. On 30 Mar 2022, Nifty again gave a strong close which is equal to its high of 17522 which shows strength of markets.

Strong PE writing was seen on 17500 levels which makes 17500 a crucial support followed by 17450. RSI is getting strong and FII now started buying in cash as well as in F&O. FUT data and Options data is positive.

For 31st Mar 2022, if market sustain above 17500 then Nifty may test 17613 levels but a good volatile session may be seen if Nifty breaches 17500 towards downside. Market is strong and bullish but be cautious as there is monthly expiry tomorrow, So Nifty is likely to be in range of 17350 – 17650.

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