30 Mar, 2016 (9:04AM IST)
Indian markets had paused in their tracks yesterday, even though the session before that was highly negative. It was as though the speculators knew nothing bad was going to happen.
Their anticipation have come true, there has been no bad news from the Fed and now, SGX Nifty is trading with a jump of 50 points.
That means, Nifty could also open with a similar gap up, somewhere near 7,650- 7,660 levels. The index will have its first resistance near 7,680 – and its major support has been established near 7,580. These two levels mark the immediate range for Nifty.
If global cues star gaining momentum then Nifty could also try to recapture its high levels of this week; that is 7,700 or 7,749.
Otherwise, expect Nifty to trade between its resistance levels of 7,680- 7,639 and support levels of 7,610- 7,568.
Watch these levels and trade with the trend.
Good luck, enjoy the session!