1. NIFTY closed on TL Support.
2. NIFTY gave a TL Break Out around 16100 levels. This TL will act as support. Maybe around 16700 levels.
3. Below 16700, 16100 -16200 Zone will act as major support on WTF, followed by 15500-15650 Zone.
4. RS showing decline.
5. If TL Support mentioned in Point 1 holds, 17750-17850 Zone would be major Resistance to watch out for.
6. No can predict bottom, so this analysis is not about that. Just a basic idea about what may happen in coming days.
7. I personally feel Point 5 would be valid in coming days. Let's see (Picture would be clearer on Monday)
2. NIFTY gave a TL Break Out around 16100 levels. This TL will act as support. Maybe around 16700 levels.
3. Below 16700, 16100 -16200 Zone will act as major support on WTF, followed by 15500-15650 Zone.
4. RS showing decline.
5. If TL Support mentioned in Point 1 holds, 17750-17850 Zone would be major Resistance to watch out for.
6. No can predict bottom, so this analysis is not about that. Just a basic idea about what may happen in coming days.
7. I personally feel Point 5 would be valid in coming days. Let's see (Picture would be clearer on Monday)