Dip can be bought on Nifty today!
Nifty is opening with a weakness but technical index has strong support around 16370 where we have a recent gap unfilled! Even the short term moving averages are situated around 16400 with option writing also around the same level. While on the other side, if we stretch a Fibonacci of the recent fall from 18100 to 15700 then we could at least test 16921 which is 50% corrective rally. So any correction today to 16350 is a good opportunity to buy for a positional trade with SL of 16280 and tgt 16921 on Nifty!
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