Nifty has closed below its 200 DMA and has taken support from its 16480 level.
On hourly time frame, looks bearish and can remain bearish on a smaller time frame.
A perfect bearish trend is being formed on 15 minute time frame and market has closed between 20 and 200 ema.
support :- 16324, 16485
Resistance :- 16680, 16825
The market can remain bearish and can fill the pending gap.
Wait for the price action before entering the markets.
On hourly time frame, looks bearish and can remain bearish on a smaller time frame.
A perfect bearish trend is being formed on 15 minute time frame and market has closed between 20 and 200 ema.
support :- 16324, 16485
Resistance :- 16680, 16825
The market can remain bearish and can fill the pending gap.
Wait for the price action before entering the markets.
