Market behaved in a similar manner to what was thought of , we saw a gap down and instant buying at the support....

But as I read the price behaviour market will look to create more trouble in a short term on both the sides.....

We might see a good upmove followed by another drawdown.. or we might first see the drawdown and then the bounce back....

16850 is an ultimate support is what you need to remember....

Ultra short term resistance comes at 17100-17120

Short term resistance comes at 17200-17250

Note the important level for rest of the week !!!