Nifty short term view - 9th March

Mar 9, 2023

Nifty is closing below 17600 but 17550 is a good strong support and it is also around March series avwap levels. Current level is also a fibo support level if plotted between recent swings. On short time frame it is also showing a divergence.
Last expiry also was a trapping candle where a lot of shorts were invited into the system only to take them away in next day's gap up and short covering rally.

Any carry forward today can be risky, please manage your risk accordingly :)


Happy Trading :)

Mar 9, 2023

Note

Also, NF closed just above 200 ema and has all potential to bounce off from here.

Mar 10, 2023

Order cancelled

View invalid as big gap down