NIFTY Spot View: 20/03/2024
CMP: 21817.45
Moving AVG (EMA) 20 Hour & 40 Hour: 21941 & 22029
Moving AVG (EMA) 20 Day & 40 Day: 22106 & 21950
Support & Downside Range: 21730—21615--21515
Resistance & Upside Range: 21875—21920 zone, 21960—22015 zone, 22055—22125 zone.
Short Term Trend Reversal Level: -- 22526
Trading View Summary:
• In today's intraday trading session key level to watch is 22125 spot as rest as long as nifty remains below this rest zone its intraday bias remains weak & sell on rise.
• After opening 21875—21920 zone & 21960—22015 zone acts as resistance zone.
• Whereas downside 21730 acts as immediate support zone, after opening if 21730 fail to hold then we may see more downside move towards 21615 to 21515 spot levels whereas after opening if 21730 manage to hold then too cool off short term RSI we may see some bounce till given resistance level zone.
• Over all till the time I do not see a 5 waves up move from lows on 15 mins to 1hr time frame my stance is now cautious to sell on rise by considering 22526 spot as short term top.
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Nifty Closing Guidance for 20/03/2024: CMP 21817.45
• Nifty low probability close remains at or below 21730 spot levels.
• Nifty high probability close remains at or above 21960 spot levels.
