Market ends steady    --    26 March 2020

Market ends steady    --    26 March 2020
 
Resistance 1:    8,710     --     Resistance 2 :  8,760
Support:            8,600     --     Support 2 :       8,500
 
Market today saw a further strong uptrend. 
Nifty at the opening went up to the next major levels of 8750 and reacted.
But market then saw a reaction and recovered above 8500 levels.
Market finally has closed nearer to the day's higher levels, with a steady closing of 320 points gain. 
Nifty after an opening rally, it saw a consolidation trend for the rest of the day.
 
But another major index, Bank Nifty has seen an intraday reaction of about 1200 points.
It has finally closed with a cautious trend, indicating a selling pressure at higher levels. 
 
Nifty after two days of rally, there can be a consolidation at  higher levels, as market has 
seen a V shaped recovery. 
Technically market is seen in a relief rally in the last two days and is seen in a minor uptrend. 
Nifty in-case of a further recovery, it has the next minor resistance above at 8,710.
Market has to trade above this resistance for a further uptrend.
Then the next resistance above is at 8760.
On other hand, in-case of any correction, then  the next support below is at 8600.
 
 
V. Sundar Raja, Research Analyst