16300 will act as a strong resistance followed by 16400. On the downside 16100 and 16000 will act as support. The day could be side ways to bearish.
Nifty may take support at 16200 and face strong resistance at 16300. If 16300 is broken then the next level to watch out for is 16400. On the downside if 16200 is broken, next major resistance will be in 16100.
Nifty will most likely be range bound. 16300 and 16400 will be acting as strong resistance while 16200 and 16000 will act as strong support.
