Trade :14,750-14,800 major resistance level for Nifty, cut leveraged exposures​

Headline index Nifty opened stable, improved as the day progressed, and ended with a decent gain. After opening on a positive note, the index stayed in an upward rising trajectory throughout the session. Volatility remained absent and at no point in time did the market showed any intention to correct it. Following a steady day, Nifty ended the day with a net gain of 168.05 points or 1.16 percent.

Over the past couple of days, Indian equities are making up for their recent underperformance against their global peers. Nifty is now well above its 100-DMA at 14,407; it has confirmed this level as an important support point for the near term. On the higher side, the index now has resistance at 14,803 which remains an immediate resistance area. This zone also coincides with the falling trend line pattern resistance near 14,750. This makes 14,750-14,800 major resistance zone for the ma.