START OF NEW SERIES

Today being the first day of March series, we are entering resistance zone of 2806 (previous high), 2824 (daily 20SMA), 2859 (weekly 20SMA), 2876-2882 ( bulls liquidated their long positions ). Considering the high resistance zone, nifty may pause here to gather momentum. For upward momentum to continue NF should trade over 2755 for target to 2830. Break of NS 2740 -2732 will cause weakness to retest its lows . Today looks like a sideways trading with no clear trend. Best is to wait and take shorts around 2860 level or trade light. Pivot for the day is NS 2771 (NF 2752) with resistance at NF 2830 and support at NF 2715. Trend will emerge once the market opens. Daily charts are positive while hourly charts are giving negative divergence indicating some selling may come at this level. Use high and low of Nifty future made in first thirty minutes to indicate the trend or stay out to get whipsawed.