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Nifty Technical Analysis for 16th May
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By: Divesh

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Nifty Technical Analysis 16th May

We discussed the Last Nifty Technical Analysis. Bulls need to close above 11252 to move towards 11350/11420. Bears need to move below the 11000-11050 range for further downside.

Yesterday, Nifty made a high around 11286 & corrected almost 150 points, struggling near 11290 levels.

It’s a classic example of how earlier Nifty Support (11290) acted as Resistance.

The view is still the same: On a close above 11252, Nifty Bulls can rally towards 11350/11420, and the Bears must save 11000 on an EOD basis.

Nifty Technical Analysis 16th May Trading Levels

Today’s Intraday support is at 11110/11065/10980. Nifty Resistance is at 11200/11245/11320.

Note: The above-mentioned price projection & other Information are for educational purposes only.

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About The Author

Divesh Jotwani is an active and full-time trader in the Indian markets. He has spent over 20+ years researching and discovering WD Gann's methods and applying them daily in the markets.

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