Nifty at critical Technical Juncture - Make or Break Monday.
Nifty is just below Fibonacci resistance of 16807. Today's high of 16752 to 16807 will be a very difficult zone to cross unless there is gap up opening or strong momentum that takes the NIFTY through the resistance zone. Closing above 16807 will take Nifty to the next FIB level of 17215.
In the medium term if the momentum continues and Nifty is able to cross 17215 big momentum breaker can be the zone between 17662 to 17813.
If Nifty fails to clear the technical resistance zone of 16752 to 16807 the supports on the lower side will be at 16609, 16523, 16481 and finally 16409. Below 16409 Nifty can go to 16199 and 15929 levels.
In the medium term if the momentum continues and Nifty is able to cross 17215 big momentum breaker can be the zone between 17662 to 17813.
If Nifty fails to clear the technical resistance zone of 16752 to 16807 the supports on the lower side will be at 16609, 16523, 16481 and finally 16409. Below 16409 Nifty can go to 16199 and 15929 levels.
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