Keeping it simple, long term supports and resistances are marked in the chart.
The selling pressure is high as foreign investors are pulling out of the Indian markets and the government acting against the market's expectations among other reasons. The sentiment is bearish. If nifty breaks the current uptrend, then we're looking at 10500/9950. In case of a...
Nifty is moving down a step at a time.
Expecting a correction to 11150/(11210 - though improbable not impossible) before the trend resumes.
Targets for the downside are at current support expected at 10990-80.