Nifty - Bearish Trend

1.As per the trend line we see a rejection at 17200.
2.The last two times at the top of the trend line we saw a fake breakout and the prices came within the trend line and markets turned bearish . This time it has reached the top of the trend line and has got a major rejection. Expecting further down move from here.
3.Supports are at 17020:16960;16930;16840.
4.Resistance are at 17120;17160;17200
5.Conclusion - Trend seems to have turned bearish and more likely a sell on rise markets.



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