Nifty 50 March futures (22,820)
Nifty 50 seems to be gaining strength. The index opened with a gap-up and is now trading at 22,744, up over a per cent. The advances/declines ratio is at 45:5. This is very positive. It indicates that more rise is possible during the day.
Nifty 50 outlook
The outlook is bullish. Nifty has surged breaking above the key resistance level of 22,650. Immediate support is at 22,700. Below that 22,650-22,600 will continue to act as the next strong support zone.
Nifty can rise to 22,800 in the coming sessions. A break above 22,800 will then clear the way for a rise to 23,000 during the week.
We expect the Nifty to sustain above 22,700 and breach 22,800 to see a rise to 23,000.
- Also read: Nifty Bank prediction today – March 18, 2025: Index surpasses a hurdle, go long
Nifty 50 futures
The Nifty 50 March futures (22,820) is up one per cent. The outlook is bullish. Support is at 22,760. Immediate resistance is at 22,830. Failure to break this hurdle can drag the contract down to 22,760 during the day. But a fall below 22,760 is less likely. So, the contract can reverse higher again from around 22,760. That rise will have the potential to breach 22,830. Such a break can take the Nifty 50 March futures contract up to 22,950-23,000 in the coming sessions.
Trading strategy
Traders can go long on dips at 22,790 and 22,770. Keep the stop-loss at 22,720. Trail the stop-loss up to 22,820 as soon as the contract goes up to 22,850. Move the stop-loss further up to 22,.860 when the contract touches 22,880. Exit the long positions at 22,900.
Supports: 22,760, 22,700
Resistances: 22,830, 22,950
