Nifty view for 11/05/22.

Nifty has been trading in a range for last 2 trading sessions.

The moving averages are also narrowing down on daily time frame.

Nifty touched its resistance level of 16400 and fell aggressively in the last trading hour getting market in red.

Support :- 16220, 16000
Resistance ;- 16400, 16480-500

Markets are volatile and range bound.

Wait for the price action before entering the markets.