Naraj Shetti, Technical Research Analyst, HDFC Securities, said the short-term trend of Nifty continues to be range-bound. “But Friday's sharp upside recovery from the lows hints at the possibility of more upside for the market ahead. A sustainable upmove above 15,900-15,950 levels could bring bulls back into the market and that could possibly pull the Nifty towards the next upside levels of 16,200-16,300 levels quickly. Immediate support is placed at 15,630,” he said.
