Pre-Market Update - March 31st 
Nifty / Bank Nifty, Stocks In News

Nifty 1 Hr Timeframe Analysis

Nifty closed at 17.80.70 (+0.76%). Nifty traded in the zone from 17196 to 16914 as resistance & support were discussed in the previous blog. It broke the trendline and approached the resistance zone now.

Nifty has an immediate resistance of 17196 levels on the upside while a trendline can also create resistance. Support is present at 16914 level on the downside.

Bank Nifty 1 Hr Timeframe Analysis

 Bank Nifty closed at 39910.15(+0.86%).  Resistance is present at 40322 level on the upside as described in the last blog.

 BN needs to cross the resistance of supply zone presence from 40322-40641 on the upside while 39760 may work as support on the downside.

Stocks in News

• Ministry of Defence signs two contracts worth Rs. 2696 crores with Bharat Electronics Ltd
  
• PVR INOX opens new 5-screen multiplex at Centrio Mall, Dehradun
  
• AGS Transact Technologies Ltd powers prepaid Rupay card issued by RBL Bank for Bangalore Metro Rail Corporation Limited
• Cochin Shipyard Ltd wins total contract of Rs. 9804.98 crore
  
  

Sector Heat Map 

Heatmap from Trendlyne website

Analysis by
Dixit from MT Team
Equity Research Analyst (Technical & Fundamental). Experienced Index Analyst.