Nifty - Looking weak

NSE:NIFTY   Nifty 50 Index
NIfty NSE:NIFTY has managed to recover ~ 350 points from the lows of the downfall which started post karnataka election results.

However, I can see that the price is unable to cross the 61.8% retracement level of the previous downmove.

Going above and sustaining 10730 can take Nifty to 10900 levels.

However,if Nifty continues to remain below 10730 it may go all the way down to 10400 levels.

Good shorting opportunity here with a stop loss around 10770 levels for a target near 10400.

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