Nifty view for 18/05/22

Nifty has rallied 400 points and has closed on a bullish note on daily chart.

On 15 minute time frame analysis, nifty has closed above its 20 and 200 ema.

The moving averages are close and there can be a bullish moving averages divergence.

Support :- 16210, 16080
Resistance :- 16400, 16480

The market can take a rest in a narrow range.
Wait for the price action near the levels before entering the markets.