ดัชนี Nifty 50
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Nifty- Bullish on weekly chart, takes support 17520

Nifty has closed at 50EMA on daily charts, also 17520 is a major pivot support. On the weekly charts, there is still some more correction possible till 16685 which will be the 50EMA support level.
PCR is quite oversold at 0.57 so contra indicates a pullback. On the upside, 17757/18171 are next resistance levels.

FIIs seem to have caught the bug again selling 45417cr compared to DII buying 24203cr -- Net 21214cr sold by institutions YTD this year. This will continue to put lot of pressure on the index as heavyweights find going tough.
CPR is narrow so we could have a trending market on Monday.
Gap down opening of 50pts is likely as indicated by sgx nifty futures. Global cues have been a dampner as well.
Next downside supports are 17520/17310/16923/16685. Some more correction could be possible as per weekly charts 50EMA support level of 16685. What do you think?
Chart PatternsTechnical IndicatorsNIFTYTrend Analysis

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