The Nifty Index in last trading session ended in the red territory at 5446.65. On the derivatives front we have seen that the Nifty Futures prices ended in the red territory along with slight addition of open interest and increase in the cost of carry, this is an indication of some longs being built at lower levels. On the options front the OI PCR has ended at 1.25 vs. 1.33 whereas the Volume PCR has ended at 1.01 vs. 1.21. On the volatility front the Indian Volatility Index (VIX) has ended at 25.26% gaining 1.49%.
Tomorrow, 18h March, first of all, Spot Nifty should open and sustain at least above 5446 in the opening bell. Nifty hurdle is at 5465. Spot Nifty will face the first strong resistance at 5475-5480 levels. if 5480 can sustain for some time, the levels of 5495-5505-5510-5520 can be seen. at 5520 fresh buying will take the spot nifty as such 5540-5560-5565.otherwise, if spot nifty could not sustain 5446 in the opening bell then profit booking can pull the spot nifty down up to 5435-5420 levels. panic selling may start below 5420 and spot nifty may come down at 5390-5340 levels. above is the possible scenario of 18th march market. what ever may be the case, both spot nifty as well as the market will ply in the wide gaps & you have to make profit within that. wait for the positive green signal.