Last trading session, we saw that the Reliance stock rally gave a big push to NIFTY. Reliance opened negative today but bounced back from its 200 DMA level. NIFTY is far below its 200 DMA level. We see that in 15 Min Charts and 30 Min Charts, NIFTY is crossing its support levels of 16590 based on Fibonacci.
If Nifty breaks 16590 support levels and holds, then the next support level will be 16390 based on Fibonacci and 16300 based on Gann Square of 9.
If Nifty breaks 16590 support levels and holds, then the next support level will be 16390 based on Fibonacci and 16300 based on Gann Square of 9.