Good Morning Friends,
Bounce came and sustained till the end of trade. I plotted an hourly chart above. I must say that 15850 is a also a crucial levels to watch on higher side.
One major thing that goes in favour of bulls is that this time momentum indicator is already too low and hence bounce may sustain. Well, its not a guarantee. There are few important resistances and Nifty may react from one of the levels. It may face resistance at 1580 or 15902 or may at 15960 levels.
Support by any chance it slips below 15750 levels then it may turn weak.
Patterns are somehow looking to give some wild swing in the day.
Happy Trading
Praveen Kumar
