The main event which has a bearing on the markets right now is the “ADANI EPISODE” Events do have an effect on the markets and charts do show a disturbance in formation. The volatility shown in recent price action is a case in point. Whether this volatility is signifying a bottom(trend reversals do happen with increased volatility but so do trend continuation IN CASES OF BIG EVENTS.)
Whatever the case might be, 18200 is an important level to watch