We in last analysis expecting NIFTY to retrace from 16118-20 level for its original retracement area of 15600-700. The Nifty broke out of our invalidation area, and sustained. Now it looks like we may find resistance at the upper trend line and NIFTY might retrace from the same area of trend line.
This is just a view and there are many other possibilities available, it is one of them.
Please do your own research and take advice of your expert for any trade/investment purpose.