NIFTY INTRADAY OUTLOOK FOR MONDAY 21-MARCH

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The Indian markets remained inconsistent this week and overall it was negative trend that had upper hand during the week. Both the benchmark indices BSE Sensex and NSE Nifty  were down 1.6% and 1.3%.

The Indices are already trading well below its crucial support levels of its 200 day simple moving averages (SMA), and it is weak therefore a small bad news can cause heavy sell-off with volatility. As the Nifty is trading below 5,400, there are chances that Nifty may test its lower support levels at 5,300 -5,200 in the immediate future.

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