Market is waiting for FED to announce its policy decision on rate hike or cut or pause.
Fed “pause is probably the appropriate response. Raising rates acts tone-deaf and cutting rates acts too suspicious,” he said in an interview with Bloomberg Television. “Central bankers globally are really focused on contagion risk and making the system function. Whether that translates into a different rates policy, that is the question on the table.”
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Bank Nifty Spot View For: 20/03/2023
Cmp: 39598.10
Support & Downside Range: 39517—39460--39255
Resistance & Upside Range: 39700—39770 zone, 39920--40290
Short Term Trend Reversal Level: --
Trading View: In today's intraday trading session key level to watch is 39517—39460 as strong support zone whereas 39255 acts as intraday trend reversal support here as long as 39255 hold after opening bank nifty may try to move up, here 39700—39770 acts as first immediate resistance break and sustain above it for 15 mins we may get immediate upside towards minimum 39920 and max 40290 spot levels. Note : if 39255 gets breach here then bank nifty goes sideways to weak again and might put pressure on nifty as well so understand the importance of 39255 spot here
