 |
| Nifty 50 Prediction for Tomorrow (March 28): Bullish Candle on the Chart |
Nifty 50 Today: Market Recap
Nifty 50 opened with a gap-down at 23,433.95, quickly touching the day’s low of 23,412.20 before rebounding to 23,600 within the first hour. The rest of the day saw a tight range of just 70 points, indicating indecisiveness. Despite yesterday’s selling pressure, Nifty closed 105 points higher at 23,591.95, showing strength.
-
Winners & Losers:
-
Top Gainer: BajajFinsv (+3.24%) (April Future)
-
Top Loser: Tata Motors (-5.24%) (April Future)
-
-
Sectoral Performance:
-
Almost all Nifty 50 sectors closed in green except Nifty Auto, which showed weakness.
-
Broader market indices on NSE also ended positive.
-
Is the Market Truly Bullish? Let’s Analyze the Data
Technical Chart Analysis
-
Support & Resistance Levels:
-
23,400 has held as a strong support zone, as today’s low was 23,412.
-
23,700 is the next crucial resistance level.
-
-
Indicators:
-
MACD still signals a downside move.
-
RSI is showing bullish strength.
-
Open Interest (OI) Analysis
-
Support: 23,500 PE has 41 lakh OI, indicating strong support.
-
Resistance: 24,000 CE has 44 lakh OI, making it a key resistance.
-
Additional Resistance Levels: 23,700 & 23,800 CE (each with 30 lakh OI) could act as barriers.
OI Buildups: Strong Long Positions
All major indices are showing long buildups or short covering, indicating bullish sentiment.
FII-DII Activity (Will be updated soon)
Prediction for Tomorrow – Last Trading Day of FY 2024-25
Tomorrow marks the final trading session of the financial year, which often leads to range-bound movement and potential volatility. Based on data and technical patterns:
-
A slow, choppy market is expected.
-
Resistance at 23,700-23,800 must be watched for a potential breakout.
-
Support at 23,400-23,500 remains crucial for any downside protection.
📌 Key Takeaways
-
Market liquidity plays a huge role in unexpected moves. Even when indicators suggest a fall, liquidity hunting can drive prices in the opposite direction.
-
Chart patterns and indicators are guides, not guarantees—always manage risk accordingly.
🚀 Start Your Trading Journey Today!
📌 Open Your Demat Account with Upstox & Get Full Support!
👉 Open Account Now
📚 Want to Learn Trading?
🎯 Get access to premium courses at attractive prices with UpLearn.
🔗 Explore Trading Courses
💬 What’s your prediction for tomorrow? Share your thoughts in the comments below! Let’s discuss. ⬇️📢
📌 Check the Affiliate Disclosure page for details on affiliate links.