Nifty received some support from bottom and the Home Minister.

Nifty today received some support from the bottom and some support from the interview of home Minister where he was seen very confident about forming a stable government as well as talking about investments in the share markets and how things will be in case they win (Which he was confident about. Nifty took support near 21821 and broke a negative trend line and gave a closing above it at 22104 as seen in the chart. However formidable resistances at 22177, 22207 and 22317 remain to be conquered. Bulls can breath easy only above this level. Also FIIs might further sell at every bounce. Unless FII and DII both are buying volatility will remain at the forefront. Supports for Nifty at lower levels are at 22020, 21938 and 21769. Below 21769 bears can create further mayhem.