Nifty InstaView 23 Mar’21: This is it … 14,900

Nifty View: Benchmark Nifty index pushes itself further up to test the anticipated resistance at 14,900. We now have a down trending index which is attempting a trend reversal. And so a sustained close above 14,900 is necessary for further upsides or else we are heading for further downsides. A break below 14,700 definitely will confirm this prospective price weakness. Strategically it is sensible to stay with the down trend and wait for the index to show conviction above 14,900. Long trades should be kept as short term as possible.

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