solid Consolidation of NIFTY going on.

Since last three days Nifty has taken solid support at near 15800 levels. However the levels of 15900 has been proving to be a tough level to conquer. The downward channel started since April end on hourly chart will be broken if the Nifty is able to sustain above the levels of 15900+ and go towards 16K. Supports and resistances on the way are as under:

Support Levels on the lower side are: 15800, 15734, 15507.
Resistance levels on upper side are : 15967, 16080, 16144, 16373 and very strong resistances at 16478 and 16761.