Weak opening expected    --    25 Mar 2020

Weak opening expected    --    25 Mar 2020
 
Resistance 1 :  7720           Resistance 2 : 7840
Support 1  :      7600            Support 2:   7550
 
Nifty yesterday closed with a gain of 190 points.  
Market saw a resistance at higher levels of 8000.
 
A weak opening is expected.
SGX Nifty is showing a gap down of about 190 points.
Market weakness is due to further lock down.
Nifty in case of a further weakness, then next support below is at 7600.
In-case of any further weakness and if trades below 7600, then a further weakness
can be expected.
Then the next major support below is at 7550.
Nifty incase of a recovery, resistance above is at 7720 and next at 7800.
 
 
On closing basis, market has to recover and close positive for any relief rally.
 
 
 
V. Sundar Raja,
Research Analyst