#Bulls failed to sustain above 22300 today, 16 May , 2024. Now watch key support at 21980 and 21800 zone on closing basis. Close below 21980 again put bulls under pressure as weekly charts slips into bear territory below this zone. Keep strict stoploss to long positions. keep booking profits wherever possible. Avoid taking fresh long positions. Regards, Suryadev Bandari Research Analyst
Today nifty made high at 22600 and facing selling pressure. By looking at selling pressure from day high to 22400 below levels, it appears that, nifty made medium term top today and vulnerable to correction from here. Stay cautious. Bulls need to sustain 22000 support levels, if that breaks down, we can expect more pain in market. Regards, suryadev bandari research analyst