Nifty to open gap up by 18 points: Dynamic Levels

Dynamic Levels' Market Outlook:

US Federal Reserve will announce its monetary policy on 21st March 2018 at 11:30 PM; the Fed highly expected hike rates by 25 basis points.

According to our research, Federal Reserve will increase interest rate by 25 basis points as US 3 month treasury is trading at 1.77

In current expiry FII & PRO has build short position in Options by -235241 contracts. This shows that big players are short in market. Our research expects Nifty to trade in arrange of 10,200 and 10,000 for current expiry and to close within this range.

Nifty is trading near its 4-month low of 10,033 and yesterday the Index made a low of 10,049. If Nifty breaks 10,033 we might see further selling coming in the market. Next monthly level of Nifty is at 9,831 (5 Months Low).

Nifty Future is opening gap up by 18 points against yesterday’s close 10,159 as indicated by SGX Nifty which is currently trading at 10177.

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