Nifty responding to fall in major global indices.

As mentioned in the earlier Tweets due to impending Commentary of US FED and Recession fears / Global slowdown concerns we saw the recent fall. After few weeks of relentless buying today we saw FIIs selling. NIFTY is currently at a major support breaking it and going below today's low will bring in further weakness for NIFTY. The Major Support and resistance levels are:

• Resistance Levels: 17541, 17716 and finally 17992.
  Major Support : 17467 (Today's low.)
  Other supports: 17348, 17135, 17023 and finally 16937.
  Below 16674 the Nifty will slip into bear grip.