The Nifty remained under pressure throughout the session and erased the gains of the previous two days to end almost a percent lower on March 9. Traders turned cautious after the US Federal Reserve’s talk of further rate hikes to tame inflation added to fears of slowing growth. After opening higher at 17,772, the index drifted lower and remained in a downtrend. It fell to the day’s low of 17,574 in late trade and settled at 17,590, down 165 points. The index formed a long bearish candlestick.
Resistance: 17700, 17750, 17800
Support: 17600, 17550, 17500
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