Reference Summary: Nifty holding lower top formation on the intraday chart indicates further correction from the current levels. Template of rallies getting sold into continues; 15600-15700 remains key support area for .
Trade Setup 16 May 2022 -
Nifty holding lower top formation on the intraday chart indicates further correction from the current levels. Template of rallies getting sold into continues; 15600-15700 remains key support area for . While quant indicators point to a bounceback opportunity, risk-reward remains in balance.
Important details found
- Nifty holding lower top formation on the intraday chart indicates further correction from the current levels.
- Template of rallies getting sold into continues; 15600-15700 remains key support area for .
- While quant indicators point to a bounceback opportunity, risk-reward remains in balance.
- Nifty still offers favourable risk-reward for tactical longs, despite Tuesday's rally.
- Gap area in at 16500-16370 will now be seen as immediate support for the index.
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