Market To Remain Highly Volatile Amid Russia-Ukraine Conflict, Bounce back to be seen

Last Trading Session: Indian Stock Market opened gap negative for the day. Market has seen blood-bath after Russia attacked Ukraine. The Indian Stock Market saw sharp downfall of 815 points for Nifty and 2700 points for Sensex. Finally, the Indian Stock Market closed a negative gap for the day.

Today: Indian Stock Market will open gap positive. Technically, the Indian Stock Market is still in the negative zone. Market will remain highly volatile till the Russia-Ukraine conflict continues. Market will see a sharp bounce back as a reaction to yesterday’s big fall. Once the market sees the sharp bounce back, traders can initiate fresh short positions near resistance levels.

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Check Detailed Analysis of Nifty, Bank Nifty and Sensex For Today

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.6448.24 crores whereas DIIs were net buyers of 7667.75 crores in the cash market for the last trading session. Nifty would see strong support at 16110-16035-15980-15865 whereas strong resistance would be seen at 16380-16515-16660-16752 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (16248) The support for the Nifty is 16110-16035-15980-15865 and the resistance to the up move is at 16380-16515-16660-16752 levels.

NSE BankNifty: (35228) The support for Bank Nifty is 34815-34576-34180-33925 and the resistance to the up move is 35660-35952-36180-36340 levels.

BSE Sensex: (54530) The support for the Sensex is 54170-53850-53615-53440 and the resistance to the up move is 54940-55370-55660-55880 levels.

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