Nifty for this week 16th to 20th January 2023

Nifty hovering around major support level. With good inflation numbers rolling out if we get a boost of good results from corporate world things can turn around in a positive way. If the numbers turn out to be at par, we will have range bound Nifty continuing to trade with volatility but on a negative side. If the results are negative, there is a scope of further consolidation and correction. Things are hanging in balance. Major Support and Resistance levels are as under:
Support Levels: 17757, 17648 and 17503.
Resistance Levels: 17974, 18113 and 18266.