My indicator is giving signal that if does not find support at the Circled level, it is likely to slip further. My indicator is showing that the Grey (red) candles are becoming darker, which is an indication of price likely to slip further. As long as the Heikin-Ashi on the bottom pane, continues to close above the Blue Wave, there is likelihood of Nifty
not slipping further. Let's wait and watch and see if it can stop at 11620.