BankNifty Conviction Idea for March 30 2021

SGX Nifty has created almost 300 points gap during the Holi holiday in India. Hinting towards a very positive start for Indian domestic markets #nifty and #banknifty. We still are very cautious for overnight longs positions since both the benchmark indices have been losing to the bulls lately and all the gains are sold into profit.

In April series, we are hoping for good recovery in the equity market provided the CORONA is under control and we see good economic recovery across the world specially US, UK, and EU along with India. With that said, here are important levels.

SGX NIFTY: 14775 almost 2% up from India Nifty

Opening Point: 33700-33800

Immediate Resistance: 34000
Resistance 2: 34300
Resistance 3: 34500

Immediate Support: 33300
Support 2: 33000

Please follow us for important levels on BankNifty daily between 8 AM to 9AM.