Chart shows down converging channel. It can go further downside at its imediate support of 348. Then a consolidation can taken place,and rally can be possible from that level.If it breaches the level of 348 then the support can shift to 325.
Trade closed: target reached:
Today almost 350 level is reached.Heavy put writing at level of 350 act as support,chances are there to cross below 350 but not going to hold that level.