Nifty Analysis

Key level to be observed is 17160-17200 Level

If break it may act as a Support .....Until it is a good Resistance.
If price strongly break above 17200 .. level to be observed is 17300 at least will observe some pullback for target of 17400-17450 level.
If price strongly break Below 16950 .. level to be observed is 16800 at least will observe some pullback for target of 16600 level.

Note : False Breakouts may happen at 17200 and 17800 levels.