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Nifty and BankNifty Chart for 6th March 2023

 

Market Context -  Bullish to sideways.

Data looks bullish as of now and expecting market to go slowly on upside. As Friday was already a trend day, so market can be a bit slow and lazy on Monday.

 

 

Nifty50 – 

PDH will be play as an important resistance level for the Nifty50. SGX Nifty is suggesting a gap up for tomorrow as well, but don’t go long blindly.

17560 is a good support. It can give a good long opportunity if Nifty comes at this level and sustain here.

For tomorrow, the levels are marked on the chart.

Chart for reference- 

 


 

 

BankNifty-  

 

BankNifty has given a good rally lately for last one week. Still trend looks strong and bullish. 41450-41650 is a zone where it may spend some time before going up.

 

 

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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