NIFTY Spot View: 16/05/2024
CMP: 22200.55
Moving AVG (EMA) 20 Hour & 40 Hour: 22175 & 22178
Moving AVG (EMA) 20 Day & 40 Day: 22294 & 22264
Support & Downside Range: 22150—22115—22059—21980
Resistance & Upside Range: 22370—22390 Zone, 22446--22527
Short Term Trend Reversal Level: -- 21820
Trading View Summary:
• In today's intraday trading session key level to watch is 22150 support & 22370—22390 resistance.
• After opening if 22150 manage to hold than we may immediate moves upside towards 22370—22390. Whereas after opening if 22370—22390 fail to break on 30 mins to 1hr sustain basis than we may see range bound expiry today where 22370—22390 act as upside resistance & downside 22150 as support and most likely expiry remains around 22200 plus minus few points.
• #NOTE: AFTER OPENING IF NIFTY MANAGE TO BREAK 22370—22390 ON SUSTAIN BASIS THAN WE MAY GET MORE INTRADAY UPSIDE TOWARDS MINIMUM 22446 TO MAXIMUM 22527 SPOT LEVELS. SO UNDERSTAND THE IMPORTANCE OF 22370—22390 LEVEL FOR TODAY'S EXPIRY
