Nifty has maintained its higher top higher bottom formation on the monthly charts but has formed a 'Doji’ candle pattern at the lifetime high levels which shows some fatigue in the uptrend.

The benchmark index has been moving in a range of 15,430–15,962 for the last few weeks.

The key support levels to watch out for in the short term are 15,430 and 15,145. On the upside, the key resistance level is 15,962.

We believe that the long-term bullish trend remains intact. If Nifty sustains above 15,962, it may move towards the 16,687 level; till then it will be fluctuating between 15,430 – 15,962.