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In this post, we will see the possible movement analysis for Nifty 50 that can happen on 8-March-2021 and the same week.
Points to consider:
Time-frame for analysis -> 15 Minutes
High possibility of Market to open Gap up on 8-March-2021.
If Nifty-50 opens gap up and crosses above & sustain above 15000 level then, it can be the Bullish sign. Hence Buy Trade can be taken. (Option traders can Buy Call Option)
The target can be: 15062/15091/15201 and 15273
If Nifty-50 does not sustain 15000 level after opening, then wait for it to break 14965 level towards downside & sustain there, then it can be Bearish sign. Hence Short trade can be taken. (Option traders can Buy Put Option)
The target can be 14880/14862/14836/14805
Strategic Fortune Team.