After two big major events NIFTY
has bounce back very sharply from its recent low and trading in downward channel
. Medium term trend is down. Nifty
has two support areas according to the Fibonacci price cluster i.e 8067.67-8167.48 & 7825-7952. RSI
is trading at 48 which may find support at 40
once again may test first support area
from where we can see a bounce back till 8600 level.