Nifty Downtrend may continue ..........Sell on Bounce.

Dear Traders, we seen bounce in Nifty from lower levels as the Index was under selling pressure from last many days viz 7-8 days. This might be a bounce to make new shorts and get out the weaker hands from the Market. Until and unless Nifty will sustains above 17860 levels in the coming days, its dynamic will not change in my point of view. However, market may be volatile in the next few coming session. Only two days of buying by FIIs and some buying from DIIs sustained the index otherwise it may find more lower levels. Lets see whether it will stay here how long. In my point of view, it will take its final support near 16900 to 16700 levels. Hoping to see that in coming days. Stay cautious and to trade with a stops and limit. these are the exact levels to sell the index with a stops above 17750 levels.

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Still more downside available upto 16850 levels to finally test during incoming days.

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