Nifty is taking support at the previous support levels, However there is divergence in RSI which means Market is showing clear weakness.
Technically market is showing to fall.
Psychologically, when there is clear sign of weakness on chart, 50% of the times, market tend to bounce back.
Next support levels are 17550 to 17450. if market sustains below these levels, then we might see 17000 levels. on the other side if market sustains current levels we might see a bounce up to 18300 - 18400
Technically market is showing to fall.
Psychologically, when there is clear sign of weakness on chart, 50% of the times, market tend to bounce back.
Next support levels are 17550 to 17450. if market sustains below these levels, then we might see 17000 levels. on the other side if market sustains current levels we might see a bounce up to 18300 - 18400