NIFTY - Only this much!

Nifty, "only this much" was the comment from one of the members when Boris Johnson presented the sanctions list. That shook the market notably the Russian Stock to rally, filtering the impact across the financial markets. We are no different. Third time 200 DMA held. Doest that mean bulls safe or bears failure? Well bulls still not safe while any break would be more sharp is the conclusion. Bears can still breadth relief as the close is still negative and large places the bleeding is deep. Near term 16900-17300 range to work and any direct break and close below 17000 aides the bears. Yesterday close with gap down is considered as bearish. For the day 17200 supply zone 16950 support zone continue sell higher is the approach.