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Niftyshortcovering

Good Solid Support taken, Nifty can see some short covering. Good solid support taken by Nifty today near 16850. Closing was well above the level and Nifty closed at 16985. This indicates we can see some nice short covering tomorrow. There can be some selling pressure later in the day. To continue the momentum into the next week Nifty has to close the day above 17062.5 that was the high of today. 17211 and 17411 will be the resistances. Support remain at 16850 and 16747. Hopefully tomorrow we will see some cracker works...after some continuous selling. if 17062.5 is taken down cleanly.
NSE:NIFTYLong
by Happy_Candles_Investment