Market Outlook for 7th March to 11th March.

Geo-Political events which are effecting the sentiment of the market and we are selling relentless selling in the index specially by the FIIs, who have increased the pace of selling. On Friday alone FII sold close to USD 1b in our market which is quiet a substantial number. DII is however buying every dip and for the reason Market is still above 16K levels. Further support on the down side is near Friday’s low of 16133, 15910 and 15527. In very less likely circumstances things in conflict between two nations turns ugly and more countries get involved Nifty Index can go further down to 15045 which is the final support zone. On the upper side in case of good news from the market from multiple fronts, the resistances will be near 16454, 16712, 16837, 17027 and finally 17233. Keep an eye on election results in few important states. The result has potential to give much required booster dose to the market.