NIFTY: Levels and Trading Strategy for 27-Mar-2024

Scenario 1: Open above 22100

If NIFTY opens above 22100 and finds support around 22080-22090, expect a sideways movement between 22080 and 22140.
A break above 22140 could lead to further upside targets at 22204 and 22231.
Conversely, if the support at 22080 is breached, anticipate declines towards 22000, 21965, and 21945.
Scenario 2: Flat Opening

In case of a flat opening, watch for initial moves towards 21965-21945.
Consider a buy trade in this range with a stop loss below 21850.
Below 21850, look for further buying opportunities around 21899-21881 with a stop loss at 21900 and targets at 22000, 22086, and 22139.
A break below 21850 could signal short trades targeting 21800, 21770, and 21700 with a stop loss at 21900.
Scenario 3: Gap Down Opening

If NIFTY opens with a gap down below 21900 but quickly regains this level and sustains, consider buying with a stop loss below 21870 and targets at 22000 and 22086.
Conversely, sustained trading below 21800 could push prices down towards 21670.