NSE has made a little breakout at 16220 which turned now support for the index. The index has now a new resistance point to break but due to already weak global cues and the Federal Reserve's taper looming at the market, Nifty50 has to experience a consolidation phase for a few days (phase to last till week) Be on a close lookout for breakouts or downward reversal trends. DO NOT MAKE FRSH POSITIONS. THIS IS A TIME TO OBSERVER AND SQUARE OFF YORR EXISTING POSITIONS because NSE is getting extreme at any market news. it's just like holding your bated breath for a correction but who knows, 18k is just round the corner!