NIFTY 50 Short Term Analysis

Nifty 50 has broken the major support at 17300, the lower trendline and 50 EMA . PSAR has also turned Bearish . With COVID Mutant Variant spooking the markets, any close below the psychological support of 17000 could further pull the marker down. Nifty can find support near the support zones of 16700/16350/16000/15500/200 EMA and bounce back. Failing to do so can further correction in the index. Plan Your Trades Accordingly.

So as of now we can see weakness in Nifty 50 in the short term.