Traders should keep a close eye on 17,315 on the Nifty: Ravi Nathani

The technical analyst sees 17,315 as a critical support level for the near term.

Nifty

Last close: 17,412.90

The Nifty index is currently at a critical juncture, as technical charts reveal two crucial points for traders to consider in their trading strategies. The first key point is that if the index remains above the critical support level of 17,315, traders can expect a near-term bottom in place, indicating a bullish market sentiment.

This is a significant level for all bullish positions, as any break below this level may lead to a fresh round of selling, thereby creating a bearish market sentiment. Hence, traders must closely monitor this critical support level of 17315 to make informed decisions.

On the