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16800 , A short term bottom? (17th March 2023)

1. U.S Markets closed higher yesterday. 
2. Right now , U.S Futures are slightly higher.
3. SGX Nifty is up 100-120 Points.
4. Asian markets are mostly higher.
5. Yesterday , Nifty broke 17k and went close 16850.
6. After hitting a low close to 16850 , markets recovered and went above 17k.
7. Also , Nifty couldn't sustain above 17k and finally closed below 17k.
8. Such was the huge Volatility yesterday. 
9. Today we are likely to open gap up of 100 points.
10. We have made a short term bottom yesterday.
11. It will be confirmed only when Nifty retest the support and bounces back from there.
12. Yesterday U.S VIX Crashed by 10%.
13. Each and every day U.S Markets are making a larger move now.
14. Everyday there's a move of almost more than a percent.
15. This Volatility would continue until this Banking crisis issue is solved.
16. Also until the FED Stops to raise interest rates.
17. As of now this is just a pullback rally and not a trend reversal.
18. Bear markets are difficult to trade as the pullback rallies and fast and furious.
19. They make you feel like it's the real deal.
20. 16850 to 17300 is the range for nifty now.
21. Nifty might trade between 16900 to 17200 today. 

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