Follwing down trend and based on todays candle closing the view of up/down side will be clear. Scenario #1 As per the #FIB Levels #Nifty is Retesting from 38% and it is expected to come near 17200 levels as of 23%. If the Monday i.e 06th DEC candle closes below 23% the next levels will be 16780/850.
Scenario 2 If the Nifty goes above 17500 then only some upside can be seen else Buy on dips and sell on Rise will continue.