Double Bottom Kind of structure is forming in Nifty.

Double Bottom Kind of structure is forming in Nifty but still it is delicately placed. If the levels of 22037 and 21912 are held which are a support zone and if the resistance zone of 50 and 200 Hours EMA which are at 22072 and 22144 are broken on the upper side we can see strength.

Thus the support Zones for Nifty are at: 22037 and 21912. Below 21912 bears will strengthen their grip.

The Strong Resistance Zones that Nifty needs to cross for Bulls to start taking control is the zone between 22072 and 22144.

Other Resistances if this zone is crossed will be at : 22206, 22301, 22361, 22445 and finally 22525.