It can be observed that Nifty has been moving in a downward sloping channel. Today, it retraced exactly from the channel resistance line. Perhaps we may see many ups and downs as Nifty bounces off from channel support line and falls back from resistance line. But as mentioned in my earlier post 9530-9550 confluence zone should act as a support.
Lets see how well can we play the simple principle in the coming sessions.
# Also refer my earlier detailed post on Nifty
Nifty at channel support and near confluence zone of 9530-9550