Market Outlook for 27th March, 2014

Nifty future:

For last few days Nifty  is in a tight range and frustrates the traders..  The primary reason being, the Best is done during first few days of this month and its consolidating now. Most likely it will hit the wall of resistance at 6750 during next month  and should start for meaningful correction.

For today’s trading 6617 and 6641 will decide the trend of market. Move beyond 6641 could take to 6705 and trading below 6617 could take to 6520.

Stock Future:

State Bank of India has closed above 200 days average for last three days and should do well going forward and so too ICICI Bank.  Tech Counters  will continue to face pressure and Dr Reddy is ripe for a good correction on downside.

Good Luck !!

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