Firstly Watch sustaining beyond 7678 for much deeper correction confirmations
As not feeling well therefore detailed analysis of Nifty is not being updated and only conclusive views are being posted which are as follows:-
25 Sessions trading between 7678-7992 with lower levels last supports between 7678-7730 and its valid break down will mean deeper correction confirmation towards following Retracement levels:-
1- 38.2%- 7546(Crucial)
2- 50.0%- 7409(Crucial)
3- 61.8%- 7271(Crucial)
Although all the European markets closed more than 1% up and Dow Jones also closed 65 points up last Friday but down moves below last Friday lowest(7736) are expected in Indian markets because fresh selling patterns formations were seen after P-notes tightening news last Friday therefore firstly sustaining beyond 7678 should be watched in the beginning of next week which may generate much deeper correction also after sustaining below it because that will be 25 sessions trading range broken down confirmation.