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Nifty

Nifty index, has been witnessing a shift in sentiment recently, as bearish pressure intensifies.A strong bearish candle formedonthesecond day, breaking through the critical support level at 18200. One support level to closely monitor is 17856, which has becomeincreasingly crucial as the Nifty index continues its downward movement.The RSI serves as a measure of market strengthandmomentum, and its decline suggests a potential weakening of the buying pressure that had previously propelled the Nifty indexhigher.The downward shift in the RSI, indicates increased selling pressure and the potential for further downside movement. Tradersand investors should closely monitor the market's response at the 17856 support level which is a strong support below18000forpotential signs of a reversal or a deeper correction. For intraday traders can look at a range from 18000-18400 which if brokenoneitherside can give a good momentum movement.

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