Pre-Market Update - March 8th
Nifty / Bank Nifty, Stocks In News

Nifty 1 Hr Timeframe Analysis

Nifty closed at 17711.45 (+0.67%). As described in the 6th march blog, Niftty broke the resistance on a gap up and rejected from the gapped down zone.

The unfilled gap on the downside may work as support and 17800 might work as strong resistance on the upside.

Bank Nifty 1 Hr Timeframe Analysis

 Bank Nifty closed at 41350.40(+0.24%). BN reacted from the supply zone of 41920-41540 as described in the 6th march blog. A sideways consolidation might spot at the current level for any up move.

There is a support presence at the 40679 level on the downside. 

Stocks in News

• Rossell India Ltd wins award at ET BEngal Corporate Awards, 2023
  
• Sun Pharma completes acquisition of Concert Pharmaceuticals
  
• Allcargo consolidates its position in Contract Logistics business, buys out partner's 38.87% stake
  
• Artson Engineering Ltd receives order of Rs. 14.49 crores

Sector Heat Map 

Heatmap from Trendlyne website

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