NIFTY LEVELS FOR TODAY-NIFTY ANALYSIS 16 MARCH

Nifty was on bear trend last day .The Nifty opened much lower and regained little bit to close at 5449.The low made(5373) was our support level and bounced back from that level.Today the first resistance for nifty is at 5485-90 level.Next main resistance is at 5519-24 level.Next resistance is at 5550-53 level.Next main resistance is at 5574-78 level.Next resistance is at 5623-27 level.Next resistance at 5642-47 level.Next resistance at 5668-71 level.Next resistance is at 5710-14 level.Next resistance is at 5731-34 level. On downside first support is at 5433-30 level.Next support at 5414-10 level.Next main support is at 5377-73 level.Next support at 5338-35level.Next support at 5320-17 level.Next support at 5295-90 levelNext support at 5273-68 level.Next support at 5245-41 level.Next main support is at 5187-83 level.Next support at 5241-37 level.Next support at 5203-99 level.Next support at 5163-59 level.Next support at 5149-45 level.Next support at 5112-07 level.Next support at 5037-35 level.Next support at 4970-65 level.The nifty had made a good move day before yesterday and yesterday the trend was very weak with global sentiment but even then nifty had recovered partially from the low of 5373 so take 5373-70 as the main support level below this level the trend will be very weak. If the nifty had to keep the up momentum it had to trade strongly above 5523 level and .For intraday expect resistance at 5484 and 5523 level and no long if nifty is below 5410 And below 5370 trend can again change to bear side .Have a look at weekly trend.
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