Technical View | Nifty forms a bullish candle, 17,000 is the level to watch

The Nifty index opened more than 200 points down at 17,094 and slipped to 17,065. As the day progressed, it recouped losses to climb to 17,280 and ended the day at 17,241. All sectoral indices, barring information technology, ended in the red. The index defended the psychologically vital 17,000 mark as well as 17,150-17,200 by showing more than 200 points recovery from the day's low and formed a bullish candlestick on the daily charts. Hence, 17,000 will be a crucial level in the coming days. A break of it can pull the index down to 16,800, while 17,500 will be the key hurdle on the upside, experts said. Read here.

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