The Nifty Future is currently trading above its 50-day EMA which indicates a strong support level. In case you are looking for some good opportunities to trade with high probability then keep following simple rules like: 

• Always use stop loss below your entry price in order to minimize risk; 
• Set target profit somewhere between 1%-2%; 
• Never try guessing where will be support or resistance levels but rather rely on indicators such as RSI, MACD etc.

The Relative Strength Index (RSI) on the daily chart is on the higher side while showing no divergence against the price. If you look at your charts, you should be able to spot some trends and patterns.

The RSI is a momentum oscillator that measures the speed and change of price movements. It was developed by Jules Heimann in 1978, who used it for forecasting stock market movements based on previous changes in value followed by new ones over time. The indicator works best when applied to stocks or other assets with high volatility such as currencies, commodities, or other securities such as government bonds or corporate debt issues like stocks because they tend not to exhibit long-term trends unlike equities which usually behave quite differently from one day-to-day basis depending on their underlying fundamentals

Technical analysis is a powerful tool for predicting the future price movement of the Nifty index. The daily MACD remains bullish, trading above its signal line.

The MACD indicator is used to help spot trends in stocks by showing how many days it takes for prices to rise or fall after a specific move. The blue line (MACD) is composed of two moving averages—one for the duration (12-day EMA) and one for the price (26-day EMA). When these two lines cross at any point on their respective timeframes, it indicates that there has been an extreme shift in momentum between those two periods of time; this happens when either one crosses over into positive territory or negative territory relative to what they were previously displaying before crossing over again after several days later when they do so again!

Nifty Spot View: 16/11/2022
Cmp: 18403.40
Support & Downside Range: 18400-- 18343-- 18310-- 18259--
Resistance & Upside Range: 18450—18512—18560--18606
Short Term Trend Reversal Level: -- 17920

Nifty Tips for Tomorrow

Trading View: Intraday Trading bias remains strong and on the bullish side till nifty is trading above the 18400 spot zone and in that case upside move gets extended to minimum 18512 and max 18560—18606 spot levels whereas once nifty starts trading below the 18400 spot zone we may see some cooling off and profit booking to start again which may lead nifty again towards downside minimum 18343 to 18310 spot zone and max 18259 levels.

Support levels are where the Nifty could bounce off and resistance levels are where it could come to a halt. These levels are based on historical data and may not be accurate for tomorrow's session. Keep an eye on Nifty Put call ratio (PCR) and if it closes above 1.5 then you should be extremely cautious as it will be extremely over-bought position and you should look to lighten your positions.

The momentum indicators are also in favor of a strong upward bias for Nifty as long as it sustains above 50-day EMA. The RSI is currently trading at 70 levels and moving above 70 suggesting that there is more upward movement left. However, if the index fails to sustain above the 50-day EMA and trades below it, then we can expect some correction in prices. 

Do remember to make it a daily habit to check our Nifty tips for tomorrow as we expect some kind of profit booking to take place as the Nifty index is near 52 weeks high and thus we need to wait for a dip and when it again breaks 52 weeks high, will be the righ time to enter in the Nifty.