Nifty breaks below an important pivot support. 11700 may support

Nifty left behind an important support level. After giving away 12000 levels which was a physiological support level this will act as an important pivot in the coming sessions. Next support can be seen at 11700 (Lead 1) on the charts, expecting some bounce from these levels. Major area of demand is 11420 (hopefully we may visit it). RSI is moving towards 40 levels & MACD as turned neutral with positive bias.