NIFTY is stuck in a range now

As we can see we did expected a rejection but at higher level but nifty despite of the gap up openenin couldnt sustain itself and fell down we can expect nifty to spend some time around 16500-17500 levels before showing a unidirectional trend till then we can watch these important levels on our chart, seeing the trend we might see a bearish side coming in nifty till 17000 levels which could be more likely news driven