The Doji formations on two consecutive days, i.e., on Thursday & Friday, did gave us a little relief. Also, the support that Nifty took at 16850 on a weekly basis, was a comfort to witness.
However, on the other hand, Nifty is still under pressure due to not being able to cross over the important level of 17180.
So, as of now, it is advisable to adopt the cherry picking strategy, with 16800 as the support level.
Regards, Alok Daiya SEBI Registered Research Analyst