Nifty Intraday Technical Outlook

16 May 2019

Last Updated: 26 July 2021

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.

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.

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.

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