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Nifty could now continue the bounce and head towards 17,255-17,353 band while 16,855 could offer support. Investor wariness about a potential banking crisis despite a lifeline offered, could restrict a fast upmove. Unexpected outcome of the US Fed meet could bring some turbulence in the markets. Listen to the D-Street Details with Nandish Shah.

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On Intraday charts, Nifty has been forming higher tops and higher bottoms, which indicates that market could remain bullish for rest of the session. Intraday resistances for Nifty are seen at 17,081 and 17,145, while supports for the same are seen at 16,990, 16,950 and 16,910. Traders are advised to cut shorts and go long for rest of the session.

Nifty snapped a five day fall in a volatile session on March 16. In the process, it rebounded from the brink of a technical correction (10% fall from the recent high, which is also the all-time high). At close, Nifty was up 0.08% or 13.5 points at 16,985.6. Nifty formed a long legged doji after a fall, hinting at a short-term reversal to upside. It could rise towards 17,224 over the next few days.

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Today is the 6th consecutive session when Indian benchmark indices have been falling. During the day, we can expect some recovery from the lower levels. A level of 17,050 can act as intraday resistance. However, the positional trend is still bearish.

Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite mostly lower US markets on Wednesday.

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Nifty made a day’s high at 17,211 in the first 5 min of trade and turned south. Nifty Small cap Index is up by more than 1% and is outperforming the Nifty with good margin. Nifty has got resistances at 17,255, while Support for the same is seen at 16,987.  Catch the mid-market details with Vinay Rajani.

Indian markets could open higher, in line with positive Asian markets today and sharply higher US markets on Tuesday.

Listen to the D-Street Details with Devarsh Vakil.

At present Nifty is trading near day’s low with 110 points loss. Nifty Small cap Index is down by 0.8% and has reached at the lowest point since 22 July 2022. Resistances for Nifty are seen at 17,123 and 17,224. Catch the mid-market details with Vinay Rajani.