Nifty is in rising channel pattern now at top of the channel if 22800 rejects or a gap down opens and sustains below 22650 Nifty can see 22550-22500 levels.Market is overbought a dip and resumes uptrend in my view.
Support are 22650-22675,22550-22500,22420,22380. Resistance are 22800,22870,22900,22950,23000.
Note:-Mentioned Support&Resistance levels can act as reversal points.
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15 Mins chart for reference.
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trendline support holding so far if sustains here might see 22800 to 22850 end of day
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keep eye on breakdown of trendlne also if that lower levels mentioned in idea can acheive
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trendline breakdown retest done and fell
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Trade closed: target reached
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For monday 22300 area is important support area if that voilates today or tommorow nifty might see 22000 to 21900 area again watch out for break down on support.