Nifty Outlook For Tomorrow 15-March 11

Today Indian markets opened flat but gradually picked up momentum on the upside as the day progressed which led the indices to close in green near days high. On the daily Nifty charts, after series of narrow range body formation we are observing a wide range positive candle which is above the 20-day EMA. This suggests upside trend in coming trading session. 

For intraday trading tomorrow if indices trade above 18,465 / 5,540 levels then it would breach downward sloping trend line. Indices are then likely to test 18,585 - 18,740 / 5,565 - 5,600 levels. On the downside 18,310 - 18,215 / 5,490 - 5,460 levels may act as support for the day.

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