Why such a deep plunge in Indian Markets?

Nifty Analysis Nifty50 futures.

With weak economic data from US, amid rising fear of recession and weak growth from companies, Indian Market opens in deep red.

SGXNifty stocks we down 0.19% this early morning.

Technically this fall shall find support at 17970 and 17922.90 as s1 and s2 respectively. Below 17920 last month's low is where we can see Nifty prices to fall.

As mentioned in chart, the important levels are:

S1: 17976-70

S2: 17922.90

S3: 17887

S4: 17852

The major bearish invalidation point is 18025 as R1 and 18100 as R2.