Hi Traders,
NIFTY looks strong, faces a resistance at 16000 levels.
But looking at the momentum and if the news is positive from US and Crude oil continues to stays around 100$ then we might see a good Upmove from here.
There is a Gap between 16025 - 16170 in NIFTY which might get filled up pretty soon maybe tomorrow or day after looking at the Price Action. NIFTY can also open Gap Up to directly 16170 levels.
On DOWNSIDE, we've good Demand zone between 15900 - 15925 which can act as a Strong Support.
Regards,
Anshul.
NIFTY looks strong, faces a resistance at 16000 levels.
But looking at the momentum and if the news is positive from US and Crude oil continues to stays around 100$ then we might see a good Upmove from here.
There is a Gap between 16025 - 16170 in NIFTY which might get filled up pretty soon maybe tomorrow or day after looking at the Price Action. NIFTY can also open Gap Up to directly 16170 levels.
On DOWNSIDE, we've good Demand zone between 15900 - 15925 which can act as a Strong Support.
Regards,
Anshul.