16700 would be crucial level for Nifty. It is the level from where Nifty made almost 2000 points upside rally and again 2000 points downside rally to retest it. If Nifty sustain above 16700 then we can expect an upside move from here.
This is a general Analysis based on levels and my personal understandings. Please do your own research and analysis before taking any investing related decision. Thank you.