Nifty view for 27/07/22.

Nifty has closed below its 200 DMA and has taken support from its 16480 level.

On hourly time frame, looks bearish and can remain bearish on a smaller time frame.

A perfect bearish trend is being formed on 15 minute time frame and market has closed between 20 and 200 ema.

support :- 16324, 16485
Resistance :- 16680, 16825

The market can remain bearish and can fill the pending gap.

Wait for the price action before entering the markets.