2. Nifty made 4 failed attempts to sustain below 16850, shows strong buying coming from below 16850 till 16400. Expect same to continue, that is buying to come from 16400 - 16850 zone.
3. BUY - If breaks 16800 and reverses .
Entry - Next day if breaks above 16800 break candle.
Stop - Below candle low.
Target - 17800.
Same setup for 16400 also.
4. SHORT -
Entry - Breaks 16400, wait for weak pull back to short.