BY A STAFF REPORTER: Yesterday’s Bouncing was restricted by 50dma = 17500 – our pre-defined crucial barrier failed to cross. High 17490, profit booking came as that was whipsaw area. Nifty Low 17257 & closed at 17322. D to D basis down -30 points.
Market further pulled back on Ukraine. Investors are monitoring developments in Ukraine as Russia-Ukraine concerns linger and also awaited the release of minutes from the Federal Reserve’s last meeting.
NIFTY’s Retracement levels are from 16809 to 17490 :- 17333—17232—17151 major 17070--16955. Immediate hurdle 17420 – 20 & 13 dma cross point. 17420 to 17500 very crucial positional basis trend deciding range whipsaw area. Traders should cautious as long as sustains below that but if breaches decisively 17500 then only 17650
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