Nifty Trading View for 29 Mar 2023

Nifty Spot View: 29/03/2023

Cmp: 16951

Support & Downside Range: 16913---16828

Resistance & Upside Range: 17062-- 17110---17208

Trade accurately using our Nifty option tip which is given in afternoon session.

Short Term Trend Reversal Level: -- 17800

Trading View: In today's trading session key level to watch is 16913 spot levels break and sustain below it for 15-30 mins we may see selling pressure to get intense towards 16828 and below levels whereas if 16913 manage to hold then ahead of oversold breath in the market and monthly expiry session we have a good chance of short covering move , a real short covering move starts once nifty manage to sustain above 17062 spot levels for 30 mins 1hr, because of the continues narrow and sideways market it is advisable not to take big position in f&O and those who are playing in index options do not go with naked buying play with spreads.

Nifty live update cmp 16990, Nifty has retaced almost 61.8% of 16913 to 17049 today high move now move above 17050—17062 we will get long awaited short covering move towards 17140 to 17210 spot levels , now 16959—16950 will act as strong support here if this gets breach then it's a #optionswiters day and if 16959-16950 manage to hold and we moves above 17050—17062 spot then it's a going to be a bull's expiry here 16959—16950 to 16913 will act as support a move below 16913 new selling will start if not then we will head higher if not today then from tomorrow so consider 16913 a short term reversal support now..