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.
