A very strong reversal pattern is visible in nifty intraday charts i.e. Inverted head and shoulder which indicates that the fall is over for now and we could see a sweet reversal.
Also, nifty is taking support around the golden 0.618 retracement level which coincides with 200DEMA.
Reverse Divergence is visible on RSI indicating a fall in the strength of bears.
Yesterday's data also indicates a short covering along with a gap up probability.