In the last 3 days, we witnessed 3 falls in Nifty intraday. All these falls were followed by a recovery. In the first and second fall, Nifty recovered only by 50%. However, after today’s fall, it recovered almost 75%. I see this as a positive. The FIIs and DIIs have also been net buyers today although only for a small amount. Europe has ended in green. The US Dow is also trading in green. Should be a positive day tomorrow. With this, let us move to the key levels.
Bulls to control above 16293. Targets on the upside are 16320, 16353, 16371.
Bears to control below 16259. Targets on the downside are 16241, 16223, 16192.
- Moderately Bullish
- Moderately Bearish