Nifty Outlook 7 May 2022
As per last week outlook, Nifty has touched the level given 16600 in this week after breaking the crucial support zone of 16800. In the given chart, it is shown that Nifty is trading in given trend channel which has taken support on yesterday's session at 16400. Nifty is trading in a small range also which is indicating that once price will break 16500 the small trend range we can expect price to touch level of 16700. Overall view is sideways to bearish. If price breaks the Friday's low 16340 then further downside range is expected till 16200 and below 15800 will be on the card. Small jumps can be considered selling opportunities.
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