It seems like Nifty is forming double bottom, If analysis is true than we may expect relief rally towards 7850-7900+, if break than SELL SELL SELL for Target 7540.
> Nifty trying to form a Head and Shoulder. In such a case, Price may try to get support near 7730,7710 or 7690. If holds these support, Expect a bounce back to form the right shoulder. Hope the above chart and strategy gives you a clear idea of whats next on nifty.