In all probabilities, the last rally was an x-wave up completed yesterday at 11523.25 and a fresh down move has started. If Nifty Spot fails to recover above 11404 then this fall may extend tomorrow and if the fall extends also the first resistance of pullbacks will be 11404 in such a case. The fall has been of 156.35 points till date. Going by the previous falls we have observed a minimum 3 days falls have happened always so if no recovery is made tomorrow the fall may extend up to Wednesday. Lower side support is around 11305 and thereafter 11165-11171. T/L and Gann Support are below it closer to 11100.
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