Stock name: Nifty 50

Pattern: Near Crucial Support

Time frame: Daily

Observation:

On a daily basis, it can be observed that Nifty is trading in a Falling Channel pattern. Currently, the immediate support is around 16800 levels while the immediate resistance is around 17100 levels. Nifty has to hold itself above 17050 to witness the levels of 17100 -17250. Whereas on the downside if it does not hold 16800 then we may expect further selling in the markets in the coming days.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendations. Please consult your financial advisor before taking any financial decision.

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