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Markets traded in a narrow range volatile and ended marginally in the green on mixed indications. After starting flat, Nifty struggled to inch higher, but a sharp drop in the last hour cut gains and it eventually settled at 16985. The Sensex rose 126 points to 57653. Most Asian stocks struggled on Monday amid renewed concerns about further defaults by US and European banks, with Chinese markets falling the most as weak results dragged oil and gas stocks lower. European stocks traded higher after First Citizens BancShares reassured vulnerable markets on Monday by saying it would take deposits and loans from the failed Silicon Valley bank. S&P Global Ratings on Monday left its forecast for India's economic growth unchanged at 6% for the fiscal year beginning April 1, before increasing it to 6.9% the following year. Nifty again failed to hold on to intraday gains and witnessed a last hour selloff. 16750-16850 band could offer support in the near term while 17150-17200 could offer resistance. Mood in Indian markets currently in the holiday shortened week and ahead of the fiscal year end seems to be to reduce positions especially in the broader market and take tax losses. The Bank Nifty bears continued to attack the index from higher levels and the index faced stiff resistance at the 39800-40000 zone. The index is stuck in a broad range between 39000-40000 and a brake on either side will have trending moves. The monthly expiry has the highest open interest build up at 40000 ce and any trade above this will lead to sharp short covering.

Resistance: 17000, 17100, 17200

Support: 16900, 16800, 16700