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Nifty and BankNifty Chart for 13th March 2023

 

Market Context -  Bearish to sideways.

                        Markets are getting affected by the drama happening globally. Looks like more downside is possible easily and again market is in Bear grip.

 

 

Nifty50 – 

17400-17350 will be a support zone for tomorrow. Sentiments are negative hence we can see 17200 as well. Let’s take the short trade only on PWH,PWL levels after seeing the price action.

Chart for reference- 

 


 

 

BankNifty-  

 

It may open gap down and fall 200-300 points again. 40000-40050 is a good support range.

If market opens flat, we can plan for a short trade after seeing the price action and our immediate target will be 40200.

 

Chart for Reference- 

 

 


 

 

 

 

 

Abbreviations used in Chart-

 

PDH – Previous day High

PDL – Previous day Low

PWH – Previous Week High

PWL – Previous Week Low

 

 

NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL PURPOSE. TRADE WISELY.

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