Nifty Poised Nicely in the critical Week.

Very Important week for Nifty and other global indices as Us Federal Reserve meets tomorrow. Global Market are looking for some respite, pause in rate hike or loosing of the hawkish stance and Global Baking systems are feeling the heat of unprecedented 500bps hike by US Fed in las one year. Positive news on this aspect will be greeted by global markets and we could see an all-round relief rally after the banking catastrophe that we saw around Silicon Valley Bank and Credit Suisse issue. Indian banks and Growth process undoubtable is on a robust path but we can’t alienate ourselves from what is happening around the world. Some analysts believe that in the long run India stands to achieve more from multiple emerging scenarios in the long run. Short term support and resistances for Nifty are at:
Nifty Resistances: 17144, 17225 and 17546.
Nifty Supports: 17061, 16828 and 16723.