Nifty opens slightly gap @ 16474 vs yesterday's close at 16416.
Nifty saw a sell-off initially in the first hour, though took support at the levels [16340].
Nifty bounced sharply from the support levels ( 16340)
Nifty then took resistance at day's high, saw a selloff from there, and closed near day's low.
The nifty structure still looks weak and the sell-off can extend further if it breaks 16340 decisively.
Nifty Support and resistance for tomorrow
Support at 16000-15800
Resistance at 16476- 16480
Nifty saw a sell-off initially in the first hour, though took support at the levels [16340].
Nifty bounced sharply from the support levels ( 16340)
Nifty then took resistance at day's high, saw a selloff from there, and closed near day's low.
The nifty structure still looks weak and the sell-off can extend further if it breaks 16340 decisively.
Nifty Support and resistance for tomorrow
Support at 16000-15800
Resistance at 16476- 16480
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