Strongest support at 16840 and 16600.
Strongest Resistance at 17240 and 17410
There are two out probabilities (Red and Blue paths).
Either #Nifty might test 16600 first and bounce or it might get rejected at 17240 and then move down towards 16660. Either way, the trend is bearish and it will turn bullish only above 17410.
Strongest Resistance at 17240 and 17410
There are two out probabilities (Red and Blue paths).
Either #Nifty might test 16600 first and bounce or it might get rejected at 17240 and then move down towards 16660. Either way, the trend is bearish and it will turn bullish only above 17410.
Comentarios:
Blue line is the path that #Nifty is following now. If 16600 does not break, expect a sharp recovery.