Nifty technically long now for immediate short term Mar'2 series
In daily chart, RSI seems to make short term bottom for 50% retractacement which is nearly 17400 in March series itself.
Technically if we look at past trend from Nov 30, 2022 when Nifty topped 18830 from there after every fall RSI has been bottom out around 35-36 levels and from there 50% upside has been retraced. Hence in short term nifty can quickly surge to 17450-500 levels in Mar series.
On the other side if this falls continue which is not a likely bias then lower side will find a minor support around 16725-50 there after 16250-75.
Technically if we look at past trend from Nov 30, 2022 when Nifty topped 18830 from there after every fall RSI has been bottom out around 35-36 levels and from there 50% upside has been retraced. Hence in short term nifty can quickly surge to 17450-500 levels in Mar series.
On the other side if this falls continue which is not a likely bias then lower side will find a minor support around 16725-50 there after 16250-75.