Tech View: Follow-up buying missing; Nifty may find support at 16,800

Chandan Taparia of Motilal Oswal Securities said that Bearish Inverted Hammer indicates that follow up activity is missing and every bounce is being sold into. “As long as the index holds below 17,200, any bounce could be sold into. A weakness may be seen towards 16,800 and 16,500 levels. Medium term hurdles can be seen at 17,350 and 17,500 levels,” Taparia said.