A longer term view short view on nifty

We can clearly see lower highs formation on the weekly chart of nifty , so if we draw fib from the swing high on daily chart to the swing low, we can see rejection from .382 levels,

and as we know if we see rejection from .382 it implies primary trends is much stronger and therefore if nifty doesn't close above 17350, we are in for a sharp fall till 16300 atleast!!

Comment:

16300 is done, now some pullback and may we can start falling again!!