Today Nifty had a solid closing where it rose 246.85 points and 1.46%. What lies ahead is an important resistance which can become an hindrance. That hindrance is 50 days EMA is at 17264. If that is able to cross this important resistance then further levels will be:
Resistance levels: 17384, 17607, 17858
If we are not able to cross 50 days EMA the support levels will be at : 17044, 16995, 16856.
Below 16850 closing Bears will take over the market once again.