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Nifty and BankNifty Chart for 15th March 2023


Market Context -   Sideways. Now market is at the stage where it can give a pullback and then again come down. Bears will sell on every rise. So there will be some tussle between bulls and bears at least this week which will make market more of a sideways.

                         

 

Nifty50 – 

The zone between 17145-17185 can act as a resistance. We can plan to take a counter trade here on downside. Scalping can be best for 2-3 days.

Below todays’s low which is around 17000, we can again expect a good fall of 150-200 points.

Chart for reference- 

 


 

 

BankNifty-  

 

Sentiments are bad for banks already. Be cautious before going long. Also any strong selling can come below PDL. 39600-39700 is a zone which will act as a resistance if market opens gapup.

 

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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