InvestorQ : What are the market outlook and Nifty target for the week starting from 15th March 2021?
Aswini Chikkodi made post

What are the market outlook and Nifty target for the week starting from 15th March 2021?

Answer
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1 month ago
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The market technical continues to weaken. The outlook and trend for Indian markets this week are negative. The preferred
trade from here is “sell on rising”. The momentum appears slowing down, implying that chances of a reversal in trend
(and outlook) are now less as compared to previous weeks. The trend and outlook for Nifty and Bank Nifty are negative
indicating an adverse risk-reward ratio.

For this week-
• The day traders may avoid trading in 14965-15085 nifty range, as in this range volatility may be high and stop losses on
both sides may get hit. The long positions may be held with a stop loss of 14855. Non-positional short positions may be
held with a stop loss of 15385.

• For Bank Nifty also day Trading may be avoided in the 35610-35840 range. For all long positions maintain a strict stop loss
of 34895. Non-positional short positions may be held with a stop loss of 36080

The benchmark indices posted marginal gains in a tentative week of trading. Nifty managed to close above
the psychologically relevant 15K mark. Broader markets continued to outperform the benchmarks. IT sector was a notable
outperformer. Nifty Next 50, Realty, and PSU Banks were notable underperformers. INR continued to strengthen further;
while bond yields were mostly unchanged from the previous week. Volatility eased further considerably.

The impending Biden’s stimulus checks fire the risk appetite of investors, causing global equities to rally. However, rising
bond yields prompted skeptics to question the exuberance and prompted buying in precious metals. Crude oil was
marginally down. Volatility eased further. US10yr benchmark yields topped the keenly watched 1.6% level.
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