NIFTY LEVEL PREDICTION FOR MONDAY 28 MARCH 2022

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Today markets continue to be in a grind, influenced by and reacting to increasing news flow on the global front, particularly related to the geopolitical situation and Fed rhetoric. The two main challenges and monitors for markets in the near term are persistent inflationary pressures and rising bond yields. While inflationary pressures have been building in recent months, the geopolitical situation has worsened the situation as Ukraine and Russia are big players in energy and several commodities, and the prices of some of these commodities have risen sharply since the beginning of the crisis. An ongoing geopolitical situation and elevated prices will gradually weigh on demand and profitability and may result in growth and earnings estimates being trimmed. The recent rise in bond yields may also have an impact on capital flows and stock valuations. As markets have pulled back sharply over the last few weeks one can try to get some liquidity as the uncertainty and volatility is likely to continue for some time with too many moving parts creating intermittent opportunities.
After the recent 10% rally, the market has moved sideways with a negative bias due to the rise in commodity prices, monetary tightening and inflationary pressures. The domestic market is showing strong resilience, but to maintain the trend, much will depend on the outcome of the war and commodity prices. Easing of COVID restrictions in India is a boost for sectors like Hospitality, Multiplex, Transport etc. resulting in outperformance
SUPPORT : 17109,17003,16803
RESISTANCE : 17309,17403,17603