The market broke a two-week streak victory when Hindara Indies remained under sales pressure throughout the week ending December 17. Last week, BSE Sensex decreased by 1,774.93 points (3 percent) to solve it at 57,011.74, while Nifty50 fell 526.1 points (3 percent) to close at the level of 16,985.2.

Tapse Prashant, Vice President (Research) in Equity Mehta | Greed will return to play only above Nifty 17289 Mark and Euphoria will take the middle stage only at the point above Nifty 17641 mark. From the chartist point of view, Nifty’s biggest support was seen only on the sign 16781. Below the number 16781, expect a sales water to 15,871.

Ruchit Jain, Trade Strategy, 5Paisa.com | Technically, the lowest swing of 16890 and 16780 will be the next support level for nifty, while 17200-17300 will appear directly resistance zone.

AMOL ATHAWARE, Vice President – Technical Research, Securities Box | We hold that short-term formation is weak and the possibility will continue in the near future. This outlook will remain intact as long as Nifty does not exceed 17150/57500 which is a short-term resistance zone. Under the same, the correction wave is likely to continue up to 16850-16750 / 56700-56400 on the flip side, above the breakout resistance of 17150/57500, the continuation of the pullback rally will continue until 17250-17400 / 57800-58300. Counter traders can put counter bets near 16750/56400 with strict 16690/56200 stop loss support.

Rahul Sharma, Joint Owner Equity 99 | We see the next big support for nifty at the level of 16800 which will act as an important point. But if Nifty violates that level, the main slide of 400 points will be seen up to 16400 levels. On the positive side, we see that this can be the last blow to the market and expect some upward movements on the market next week. Smallcaps and refineries might lead recovery. Investors are advised to maintain their holding and not panic. We continue to recommend ‘buy on dips’ strategies.

Yesha Shah, Head of Equity Research, Samco Securities | In the absence of major domestic events, Mr. The market will look for indications of the global index and macroeconomic data, such as the growth rate of US GDP, to decide on its movements. With the main market buzzing, the exchange will look at the rush of the debut list this week. Secondary markets, on the other hand, are expected to remain under pressure without positive events. Because global macro is expected to dominate, investors must oversee FII’s activities to assess trends and remain in stock-centric investment strategies in the midst of the index movement bound.

Parth Nyati, Founder, Tradayo on the Current Market | Nifty witnessed the sharp selling pressure after the pullback where it formed a marubozu red candlestick formation and had slipped under the psychological support of 17000 but 16900 was a direct and important support level on the basis of closure; Below, Nifty can go to the 16700-16400 zone which is an important demand zone. On the upper side, 17200-17250 will act as a critical resistance zone on each pullback.