As of March 22nd, 2023, the Nifty GEX closed slightly above the previous day but remained below zero at -27L. The market structure has not changed and it is predicted that the Nifty may open around 17050, dip to the previously highlighted support of 17000, and the question remains whether it will surpass 17200 or drop below 17000. While the former is anticipated, the unpredictability of the market remains a factor.
Yesterday, as expected, the FOMC hiked interest rates by 25bps, signaling that the banking system is stable. JP reiterated this sentiment and emphasized the protection of deposits. However, JY's comment later caused early gains to be lost.
This morning, Hindenburg tweeted, expressing hope that there would not be another Indian corporate fiasco.
Read more on Nifty GEX at What is GEX (Gamma Exposure)?
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