Indian indices for 17th January 2023

Intraday study for Indian indices for 17th January 2023 by Harshit_Saxena on TradingView.com

Hi Good Morning
yesterday we see a good opening then in close the market gives the deep cuts and closes at day's low and visited its base but didn't broke it same as with the other indices all visited the base.
The US markets closed se we didn't have any ques from there.
The SGXNIFTY is showing flat opening.
The VIX increases so the volatility for today may increases as the weekly expire of FINNIFTY.
Now we talk about the nifty and Banknifty:--

Nifty:--
The support is placed at 17850-17777 with the resistance of 18050-18111 the ultimate support is at 17500 which is near 200DMA.

Banknifty:--
The support is at 42000-41800 with the resistance of 42350-42400-42650-42800 the levels are more because of the weekly expire of FINNIFTY.

Sector and Stock Specific ( SSS ):--
The major sectors are looking good as the it gives the good close yesterday and the budget related stocks are looking good as i mentioned the sectors in my previous studies have a look of that and if the short covering comes and the major finance will support then the day belongs to the financial stocks and indices.

Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered