Sometimes all theories fails. Can anybody say the correct reason for todays downfall & rebound at Nifty 50?

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There wont be any right or wrong answer for this but what I believe personally is it has to do with 7500 level which acted as strong support. Market has rebounded after reaching 7500 levels on last 3 to 4 instances and even two days prior of that day markets have broken 7500 during the day but closed above it. That might have caused the bounce back again.