Nifty traded weak as expected and went down to even below the 5725 mark to close at 5651 on friday. We now look for a bounce from the current levels upto 5760-5800 and then go short again for downward target of 5650 and 5525-5500. Charts below show the probable path of Nifty in the next sessions. Please trade with caution as we have just 3 days left for Nifty expiry. Tuesday, 27th Mar is holi day and 29th Mar is holiday (Good Friday).
ALLAHABAD BANK comes in the demand zone of 115-125...so look for buying opportunity on every dip. Target is 140-150, stop loss will be at 109.
TCS seems to be getting weaker, fridays close was at 1542. If it goes back to 1575 region then short it with target of 1500-1445 keeping stop loss of 1590.