*Index charts Mantra for 20 Mar 2023*
*NIFTY 50 previous close 17178*
In the last trading Nifty moved in line with my analysis and after opening Nifty bounced back from the support are but made an indecisive candle on daily charts.
Now what next, Nifty higher time frame charts are signalling bearish trend however we can see a bounce back towards the immediate resistance zone of 17286-17330
As pointed out by SGX nifty the index is set to open on a negative note
However the outlook for the day will be positive with support placed at 17020 and a buy on dip view will be initiated
The following vital levels will be in play
Support zone 17000-16986 and Resistance zone 17290-17356