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Nifty50

Nifty may take one more dip before taking off..After Silicon Valley Bank and Credit Suisse events that have shaken up both US and EU banking systems, global indices are experiencing some extreme volatility and negative sentiment. This combined with Hawkish stance of Central banks have sent investors in the panic mode. Though our banking systems look pretty solid and the global events have less significance on our economy, right now NIFTY is feeling the ripple effect of the global crisis and is trying to find a bottom. It found a pretty solid support near 16850 this week from which it has bounced. The supported can be tested once again, if it holds we can see Nifty bouncing later in the coming week or weeks. US Federal Reserve’s meet later this week will decide the course of Nifty going further. Next week is One of the most significant weeks of 2023 so far if not the most significant week. Nifty Supports are: 17062, 16959, 16850 and finally if things go wrong in the FOMC meet we may also see 16747. Nifty Resistance are: 17156, 17235, 17328 and finally 17453. Above 17453 50 and 200 EMA 17556 and 17652 will be the resistances.
NSE:NIFTY
by Happy_Candles_Investment
Good Solid Support taken, Nifty can see some short covering. Good solid support taken by Nifty today near 16850. Closing was well above the level and Nifty closed at 16985. This indicates we can see some nice short covering tomorrow. There can be some selling pressure later in the day. To continue the momentum into the next week Nifty has to close the day above 17062.5 that was the high of today. 17211 and 17411 will be the resistances. Support remain at 16850 and 16747. Hopefully tomorrow we will see some cracker works...after some continuous selling. if 17062.5 is taken down cleanly.
NSE:NIFTYLong
by Happy_Candles_Investment
#Nifty 17th March 2023 | Falcon Trader AnalysisTime waits for none, how much time do you need to learn? Check out Falcon Trader Analysis for Nifty 50 Index for 17th March 2023 Nifty has not completed this 3rd wave down, and this will end around 16848 followed by up move to complete wave 4 in ABC format, therefore next week Monday should go in that, - more on this soon. Overall trend is down, but a good 200 point opportunity up move for completion of wave 4 is pending, and then wave 5 - all this of internal 3rd wave, then we will have wave 4 and wave 5 pending for major down moves to complete this massive 5th wave of daily chart. Follow for more updates
NSE:NIFTYLong
by Falcon_Trader_1