Nifty Trend Today Technical Analysis for 16-01-2020 13:00:03

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In 1 hour chart Nifty price continues to trade at 12096 and below the (Exponential Moving Average)EMA200 value of 12105.8 and keeps its stability below until now, while 1 hour MACD Of 12,26,9 is in Sell mode. Therefore, we will keep our Sell overview conditioned by the price stability below

However, if Nifty continues to trade below level, that could be an extraordinarily Bearish sign for Nifty

Even so, the 200-candle Exponential moving average (EMA) price range of 12105.8 is proving a tough nut to crack.

Pivot (invalidation): 12227.2

Our preference: Long positions above 12262.1

Alternative scenario: Below 12189 look for further downside.

Support Resistance Levels For Nifty Today at 16-01-2020 13:00:03

Pivot: 12227.2

Resistance 1: 12262.1

Resistance 2: 12300.3

Resistance 3: 12335.2

Support 1: 12189

Support 2: 12154.1

Support 3: 12115.9

Yesterday High Low Close For Nifty

Yesterday High: 12265.5

Yesterday Low: 12192.4

Yesterday Close: 12223.8

Today at 16-01-2020 13:00:03 Nifty trading at 12096 with high of 12175.5 and low of 12063.3

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