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Nifty Technical Analysis 16th May

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

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

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

Click on Chart to Enlarge

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

Nifty Technical Analysis 16th May Trading Levels

Support for today in Intraday is at 11110/11065/10980 Nifty Resistance is at 11200/11245/11320.

Note: Above mention price projection & other Information are for educational purpose only.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.