Nifty has taken support near 16078 level, and the day closed with a green candle in last 15 minutes. There can be good support area around these levels for final target of 16400++ levels.
Targets -
Upside: 16200, 16400, 16600 Downside: 15900 and bounce
Chances of Gap Down> - Possible. US Markets are down? - If it opens Gap Down - then check 24th May previous post where we see 4th Wave is already formed and we go 5 waves down.