In weekly time frame it has formed a bear flag and broken the flag. It has a strong support at 314, this level is tested multiple times and if decisively broken then it should give a nice fall. Option chain looks week till 300 and there is a Option chain support at only 300.
Nifty is at its support zone that can see some buying if it breaks below the current level of 11200 downside is open. Let's wait and see what is in store for up coming weeks. Also taking support at Fib 50%, breaking that will be a trend change and can see further fall.