Nifty will open gap up and will take resistance at 17700 or 17712 and will start fall slowly. until 17588. BUY Above 17644 (NIFTY 17600 CE) Target 17663, 17677,17700,17735, 17777,17826 Sell Below 17636 (17650 PE) Target 17612,17588,17557,17514, 17483.
Monthly closing of Nifty was not bad and above 15500 levels despite spreading global gloom. However it does not show we are out of troubled waters. All is well till we are above 15500 levels. Below 15500 levels there are two major supports. One is recent bottom near 15180 levels. If this is by chance taken down in July we will be left with a major strong Fibonacci...
Even Nifty on Monthly TF is looking weak. But I might be wrong. But If price follow the PA we can expect again 16k levels on downside. Views are personal and only for educational purpose.