If NIFTY breaks the levels of 17915 on the hourly chart and closes below, then 17850 is the next level. There would be some good support to NIFTY at these levels, since the fibonacci magic ratio level is also around. Expiry being tomorrow, and max pain around 18000, 17900 would be a tough support to break. Big players will first adjust their positions (cover shorts on 17900 PUT), and then we will see a further downside. So we may see a quick fall to 17850 and a recover towards 18000 today and tomorrow.
