As we mentioned that Nifty is getting weak every day and its better to short sell on every rise.
Nifty is now standing at crossroads and 5267 is strong turning point.
From here we can have good bounceback or there will be more pressure selling from now on.
Breach of 5267 may lead Nifty to 5227 level and even lower.
Traders should wait for a breakout on either direction and then decide for the future course of action.
| Important Nifty Levels for 16th April | ||
|---|---|---|
Nifty Pivot | 5285 | |
| Support | ||
| 5267 | 5235 | 5207 |
| Resistance | ||
| 5307 | 5338 | 5369 |
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