Nifty Spot View: 17/05/2023
CMP: 18286.50
Moving AVG (EMA) 20 Hour & 40 Hour: 18345 & 17320
Moving AVG (EMA) 20 Day & 40 Day: 18067 & 17875
Support & Downside Range: 18250—18190--18042
Resistance & Upside Range: 18378—18417--18459
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Short Term Trend Reversal Level: -- 18459
Trading View: Market breath is weak after yesterday's trading session & we closed below 20 & 40 Hour EMA which is 18345 & 18320 spot levels, these two EMA along with 18378 will act as strong intraday resistance break and sustain above it for 30 mins to 1hr bulls will get strength else we may try to cool off more 1 or 3 trading session and can fall towards 18042 spot levels here 18250 will act as immediate support break & sustain below for 15 mins selling pressure gets intense.
