Nifty Trading Levels : 20 Mar 2023

Gold and Nifty has inverse correlation

Likelihood of Gold touching 62000 exists in few days and thus Nifty can fall till 16550 and worst scenario till 15200

Global issues are being resolved

Clarity will emerge after Fed Meet 21/22 mar

Make profit tension free using our Nifty tip on a daily basis.

Nifty Spot View: 20/03/2023

Cmp: 17100.05

Support & Downside Range: 17060—17040 zone, 16994—16958 zone, 

Resistance & Upside Range: 17127—17195--17257

Short Term Trend Reversal Level: -- 17800

Trading View: In today's intraday trading session key level to watch is 17060—17040 spot zone if this gets breach after opening and sustain below it for 15-30 mins then bias goes sideways to weak whereas if 17060—17040 manage to hold then we may immediate see a buying to come in market which may lead nifty towards minimum 17127 to 17195 and max 17257 spot zone, here 16958 acts as trend reversal support if this gets breach then entire up move from recent low of 16850 turns in to corrective bounce and we may again head lower below 16850 in coming session so understand the importance of 17060—17040 spot zone as support and 16958 spot as reversal support.

Nifty live update cmp 16940 after opening it breach 16958 and made a low 16682 as of now if nifty does not cross 16985 spot and again moves below 16882 then we may immediate open for 16700 minimum to 16500 spot levels, whereas if nifty manage to sustain above 16985 spot for 15-30 mins then we may head again upside towards 17060 minimum by day ends so understand the importance of 16985 resistance and 16882 support now for remaining trading hours of the day