Street signs: Arbitrage opportunity in Escorts, bonanza for Havells & more

Can Nifty hold on to 16,000? 

With investor sentiment turning bearish, many are fearing that the Nifty50 index could slip below the 16,000-mark. Vijay Dhanotiya,  Lead-technical at CapitalVia Global Research, says the index has failed to hold on to its support of 16,400 and the next key support is 16,000. “If the market is not able to sustain above the level of 16,000, it could correct till the level of 15,600,” he says. The index closed at 16,245 on Friday, down 11 per cent over its 2022 peak of 18,308. “The immediate resistances for the Nifty are now seen around 16,500