NIFTY Analysis

Monthly Time Frame: Candle with with head rejection on top of market structure
RSI oversold
FII's huge selling pressure

Weekly Time Frame: Bearish medium-sized candle breaking previous two candle lows
MT Outlook: Long Unwinding

Daily Time Frame: 9dayEMA,20dayEMA broken but 50dayEMA and S1PIVOT sustains

Hourly Time Frame: Lower highs and lower lows (downtrend)

Zone to watch out for: 17516-17854
Upside Targets: 17990-18020, 17256-17318
Downside Targets: 17430,17120,16823