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Nifty Trade Setup for March 6, 2023 Predicted using ChatGPT

 The Nifty index is expected to remain sideways to positive on March 6, 2023. The trend will be confirmed if the price stays above 17555.60, and a trade condition will be met if the price crosses above 17644.75. The targets for this trade will be 17689.74, 17731.19, and 17772.65. However, if the price falls below 17638.51, a pullback condition will occur, and the pullback target will be 17555.60.

If the price falls below 17555.60, a trend failure condition will occur, and the failure targets will be 17427.70, 17421.46, and 17338.55. The resistances for the trade are 17638.51, 17689.74, and 17772.65, while the supports are 17472.69, 17421.46, and 17338.55.

The sell zone for this trade is 17638.51-17644.75 (1.01X), while the pivot zone is 17536.23-17574.98 (1.08X). The buy zone is 17427.70-17472.69 (2.39X). The sideways rank for this trade is 4 (155%), and the volatility range is 17456.53 - 17732.17.

The Vix trend is expected to be strongly bearish. The previous close for the Nifty index was 17594.35 (272.45). The Camarilla levels for this trade are 17654.04(H3), 17713.73(H4), 17813.48(H5) | 17534.66(L3), 17474.97(L4), 17375.22(L5). The Fibonacci retracements are 17644.75 (0%), 17593.53 (23.6%), 17561.84 (38.2%), 17536.23 (50%), 17510.61 (61.8%), 17474.15 (78.6%), 17427.7 (100%). The Fibonacci extension levels are 17644.75 (0%), 17695.97 (23.6%), 17727.66 (38.2%), 17753.28 (50%), 17778.89 (61.8%), 17815.35 (78.6%), 17861.8 (100%).

Overall, this trade setup suggests a potential opportunity for traders to enter a trade with a positive or sideways trend, while also taking into account potential pullback or failure targets. The key resistance and support levels, as well as the various technical analysis tools, can help traders make informed decisions about entering and exiting trades.

Disclaimer: These are only suggestive technical rules that have been found to work well over time in the market. These are not any trading or investing recommendations. We suggest you to take advice from certified experts for trading and investing. Neither PickMyStox nor any of its associates are responsible for any trading or investing loss.

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