Coming to technicals, 10100-10180/200 is a (blue shaded region). Also 10200 is a support as per OI Data. Expect some pullback if these support levels/demand zone holds. Resistance Levels or Targets for Pullback are mentioned below(also marked on chart with yellow lines):-
*10540-560 (strong resistance)
*10750-60 (major resistance)
There can be a very short term uptrend so I wont advice anyone to add positional longs.
Note: Trading pullbacks in a falling market is risky. Market trend is Sell on Rise. Ideally shorts should be added at every .
Nifty Bounced 200 points after making a low of 10200 in the opening first hour. 👍🏻
Above 10420...we can see 10500-550
Bears need to break 10200 on closing basis to gain strength back and see lower levels of 9950.
However you're correct in a way that till 10k level or previous low made in March of 9950(to be precise) is held, Major trend is bullish only.
Nifty has very well held the demand zone marked. Also we haven't witnessed any closing below 10200 level that I gave in my analysis above.
If we get a close below 10200..then surely nifty will find next Support around 9950-10000 level. That will be a major trend decider level.
Monthly close below 9950 will be super bearish.
I have given just my view in this.