Level 17,000 remains crucial for the Nifty this week. Some technical analysts believe a decline towards 17,000 would make the market oversold, and provide a good opportunity to buy. Others, however, believe Nifty moving towards 17,000 on the downside repeatedly is not a good sign. A fall below 16,800 would open the gates for a further decline, said analysts. The index ended down 28.30 points, or 0.2%, at 17,276.30 on Friday, to end the week with a 0.6% loss.
