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.
Last week on Monday, after hitting a low around the critical Gann level, both Nifty and Bank Nifty traded higher for the rest of the
Last week, Gold and Silver traded higher and gave the close in the vital zone. Both precious metals can show higher levels in coming sessions.