Valid Break out of 8477-8654 will Confirm the Fate on going Correction 

Technical Analysis,Research & Weekly Outlook

(Oct 17 to Oct 21,2016)

Nifty-EOD Chart (14-Oct-2016):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7992 on 28-04-2016) 
3- Wave-2(7678.35 on 06-05-2016)
4- Wave-i of Wave-3(8294.95 on 07-06-2016)
5- Wave-ii of Wave-3(7927.05 on 24-06-2016)
6- Wave-iii of Wave-3(8968.70 on 07-09-2016)
7- Corrective Wave-iv of Wave-3 continuation with recent bottom formation at 8541.40 on 13-10-2016

64 Sessions Range bound market between 
8477-8968

Nifty-EOD Chart (14-Oct-2016):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-iii of Wave-3 completion at 8968.70 on 07-09-2016
3- 64 Sessions Range bound market between 8477-8968 with recent bottom formation at 8541.40 on 13-10-2016

Fibonacci Retracement levels of Wave-iii of 
Wave-3(7927-8968)

Nifty-EOD Chart (14-Oct-2016):-

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Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up.
2- Intermediate Term Trend is up and will be down below 8477.
3- Short Term Trend down.

Next resistances of Nifty are as follows:-

1- 8605-8654
2- 8698-8728
3- 8770-8793
4- 8854-8873
5- 8874-8902
6- 8935-8956

Next supports of Nifty are as follows:-

1- 8477-8580(Multiple and strong supports)
2- 8297-8343
3- 8083-8147
4- 7964-8000

Fibonacci Retracement levels of  Wave-iii of Wave-3(7927-8968) are as follows:-

1- 13.0%- 8832
2- 23.6%- 8722
3- 27.0%- 8686
4- 38.2%- 8570(Crucial)
5- 50.0%- 8447(Crucial)
6- 61.8%- 8324(Crucial)
7- 70.7%- 8232
8- 76.4%- 8172
9- 78.6%- 8149 
10-88.6%- 8045

supports between 8477-8580 were updated many times in previous Outlooks and Nifty traded more than 5 hours within it in last 2 sessions as well as closed just above it at 8583.40 last Friday. Certainly correction of Wave-iv of Wave-3 is very much on and no confirmation of its completion yet and its 38.2% retracement has been completed with recent bottom formations at 8541.40 on 13-10-2016. 

As multiple supports are between 8477-8580 therefore fresh selling is firstly required for sustaining below 8477 but on the other hand complete consolidation is also must for sustaining above 8580 because multiple resistances are also lying just above it. 

As 64 Sessions Range bound market between 8477-8968 and next supports below 8477 are at 8343 therefore this big range valid broken down confirmation will mean high possibility of steep fall towards and below 8343 but expected that Nifty will firstly trade and prepare for next decisive big moves within 8477-8654 and valid break out of this range will confirm the fate on going correction which  should be firstly watched in the coming week. 

8477 Will Confirm Steep Fall amid Melting Global Markets

Intra Day Chart Analysis & Market Outlook

(14-10-2016)

Nifty-Intra Day Chart (13-Oct-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8605-8654
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Mixed Patterns formation in last 3 hours between 8542-8586 
5- Whole day actual trading between 8542-8654

Conclusions from intra day chart analysis 

As crashing like situation in all the Global markets today morning therefore firstly selling between 8605-8654 after huge gap down opening but last 3 hours trading with Mixed Patterns formation between 8542-8586 and resultant follow up selling is also required for decisive down moves below day's lowest(8542) 

Following supports were updated many times in previous Outlooks:-

8477-8580(Multiple and strong supports)

Nifty traded within above mentioned supports range in last 3 hours with mixed patterns formations and closed also within it today therefore firstly sustaining beyond this range should be watched in the coming sessions because all the Global markets are melting and once sustaining below 8477 will mean high possibility of steep fall towards following next supports which are at much lower levels:-

1- 8297-8343
2- 8083-8147
3- 7964-8000

Pre-open Outlook(13-10-2016)

As all the Asian markets are in Red and most are more than 0.70% weak as well as Dow's Futures is trading 119 points down therefore sentiment is completely depressed today morning and in reaction gap down opening will be seen in Indian markets. 

Today global markets are nervous because FOMC minutes will be released tonight which may confirm US rates hike in Dec meet.

Firstly sustaining beyond next supports 8664 should be watched today which will confirm steep fall towards next supports(8477-8580) on the back of depressing Global markets sentiments.

Finally Rally Continuation Expectations after Follow up Consolidations

Intra Day Charts Analysis & Market Outlook

(13-10-2016)

Nifty-Intra Day Chart (Oct 07 & Oct 10,2016)

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Down moves in Bullish Falling Channel on 07-10-2016
2- Consolidation between 8664-8692 on 07-10-2016
3- Down moves in Bullish Falling Channels on 10-10-2016
4- 2 Sessions actual trading between 8664-8745 

Conclusions from 2 Sessions intra day chart analysis 

Next resistances of Nifty are as follows:-

1- 8770-8793
1- 8854-8873
2- 8874-8902
3- 8935-8956

Next supports of Nifty are as follows:-

1- 8664-8692
2- 8477-8580(Multiple and strong supports)

Although closing near the lower levels of the day last Monday but not after selling and with consolidation through formations of Down moves in Bullish Falling Channels therefore signals of fresh up moves above day's highest(8745). As whole day consolidation patterns formations on 07-10-2016 also therefore strong signals of up moves last Friday started up moves continuation.

Crashing like situation developed in all the Global in last 2 sessions when Indian markets were closed and now SGX Nifty is trading more than 45 points down therefore initial weakness can not be ruled out tomorrow if such weakness remains continued in Asian markets also tomorrow morning then fresh selling is must for decisive down moves below last 2 sessions lowest(8664). 

As good consolidation in last 2 sessions therefore expected that finally rally will remain continued above 8745 after follow up consolidation.

As suffering from fever therefore Stock Market Outlook of today is not being updated.

Firstly Watch Levels for Next Trend Confirmations

Intra Day Chart Analysis & Market Outlook

(06-10-2016)

Nifty-Intra Day Chart (05-Oct-2016):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Last 5 hours Mixed Patterns between 8732-8762
3- Whole day actual trading between 8732-8806

Conclusions from intra day chart analysis 

Following line was told in previous 2 sessions Outlooks:-

"Nifty will firstly trade and prepare for next decisive moves within 8700-8793"

Nifty traded whole days except 3 minutes within 8700-8793 in last 2 sessions with following patterns:-

1- More than 10 hours trading between 8732-8762 in last 2 sessions. 
2- Both days consolidation with Down moves in Bullish Falling Channels
3- Volatility after RBI Credit Policy yesterday
4- Last 5 hours Mixed Patterns between 8732-8762 today

Although today closing near the lower levels of the day after some selling at higher levels but as such genuine selling patterns were not seen and consolidation patterns formations also therefore following levels should be firstly watched for one by one for confirmations of next trend because Nifty will trade and prepare for next trend within these ranges:-

1- 8732-8762(More than 10 hours trading range of last 2 sessions)
2- 8700-8793

Intra Day Chart Analysis & Market 

Outlook(05-10-2016)

Nifty-Intra Day Chart (04-Oct-2016):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Volatility in last hours before and after RBI Credit Policy
3- Whole day actual trading between 8737-8783

Conclusions from intra day chart analysis 

Following lines were told at 08:03 AM today in "Firstly Post Credit Policy Moves preparations within Trading Range":-

"Nifty will firstly trade and prepare for next decisive moves within 8700-8793 till 02:30 PM when RBI Credit policy will be announced and finally valid break out of this trading range will confirm next trend"

Nifty traded within mentioned range(8700-8793) between 8737-8783 today with firstly consolidation through Down moves in Bullish Falling Channel but only volatility in last hours before and after RBI Credit Policy and no one sided moves despite 25 BPS rates cuts. As technical positions reverses amid such news based today like volatility therefore expected that Nifty will again trade and prepare for next decisive moves within 8700-8793 and finally valid break out of this trading range will confirm next trend. 

As consolidation in first 3 hours through "Down moves in Bullish Falling Channel" therefore up moves continuation expectations are alive but follow up consolidation is must tomorrow because resistances between 8770-8793 above today closing. 

Firstly Post Credit Policy Moves preparations within Trading Range

Intra Day Chart Analysis & Market Outlook

(04-10-2016)

Nifty-Intra Day Chart (03-Oct-2016):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after gap up opening
2- Up moves with intraday corrections
3- Slow up moves in last 4 hours
4- Whole day actual trading between 8635-8745

Conclusions from intra day chart analysis 

Although sharp up after gap up opening and up moves also with intraday corrections but slow up moves in last 4 hours therefore some profit booking can not be ruled out also at higher levels of the day. As sufficient selling has not been not seen yet therefore immediate down moves will not seen until complete fresh selling will not develop today.

As slow up moves were seen above 8700 and next resistances are up to 8793 therefore Nifty will firstly trade and prepare for next decisive moves within 8700-8793 till 02:30 PM when RBI Credit policy will be announced and finally valid break out of this trading range will confirm next trend which should be watched today.

Firstly Pull Back Rally within Sideways Market

Technical Analysis,Research & Weekly Outlook

(Oct 03 to Oct 07,2016)

Nifty-EOD Chart (30-Oct-2016):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7992 on 28-04-2016) 
3- Wave-2(7678.35 on 06-05-2016)
4- Wave-i of Wave-3(8294.95 on 07-06-2016)
5- Wave-ii of Wave-3(7927.05 on 24-06-2016)
6- Wave-iii of Wave-3(8968.70 on 07-09-2016)
7- Corrective Wave-iv of Wave-3 continuation with recent bottom formation at 8556 on 30-09-2016

Conclusions from EOD chart analysis 

Correction is on with recent bottom formation at 8556 and no confirmation of its completion yet.

Intra Day Chart Analysis(30-09-2016)

Nifty-Intra Day Chart (30-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections in last hours
3- Whole day actual trading between 9556-8637

Conclusions from intra day chart analysis 

Although sentiment was nervours due to Indo Pak border tension but whole day consolidation was seen through intraday corrections and Bullish Falling Channel formations last Friday therefore up moves are expected in the beginning of next week. 

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up.
2- Intermediate Term Trend is up and will be down below 8477.
3- Short Term Trend down.

Next resistances of Nifty are as follows:-

1- 8770-8793
1- 8854-8873
2- 8874-8902
3- 8935-8956

Next supports of Nifty are as follows:-

1- 8477-8580(Multiple and strong supports)

Multiple and strong supports between 8476-8580 were updated on 25-09-2016 in "Firstly Watch Immediate Supports for First Indication" and Nifty got supports within this range last Friday therefore this supports range has become stronger and until Nifty will not sustain below 8477 after complete selling till then fresh decisive down moves will not be seen.

As follow up consolidation last Friday within above mentioned supports range therefore firstly Pull Back Rally towards 8770 will be seen in the beginning of next week. Now Nifty will be understood sideways between 8477-8956 and finally sustaining beyond this range will confirm next trend which should also be watched for its confirmations. As Ceasefire violation by Pakistan and volatility may be high due to it in next week therefore traders should be cautious because Stop Loss triggering risk may also be high.

Firstly Watch next Supports after Indian surgical strike on POK 

Market Outlook(30-09-2016)

As trading after 12 PM on 30-09-2016 was the reaction of Indian surgical strike on POK and not on technicals therefore intraday charts analysis is not being updated and next supports between 8476-8580 are being posted which should be firstly watched in the coming sessions for on going correction continuation/completion because supports within this range are multiple and strong.

Rally continuation towards next Resistances

Intra Day Chart Analysis & Market Outlook

(29-09-2016)

Nifty-Intra Day Chart (28-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with intraday corrections
2- Whole day actual trading between 8704-8767

Conclusions from intra day chart analysis 

Although all the Asian markets were trading in Red but firstly flat opening of Indian markets and whole day up moves with intraday corrections and today closing above mentioned supports range(8695-8736) therefore rally continuation is expected towards next resistances( 8854-8902). 

Intra Day Chart Analysis & Market 
Outlook(28-09-2016)

Nifty-Intra Day Chart (27-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- 5 Hours trading with Mixed Patterns formations between 8726-8760
2- Down moves in last hour after sharp down of European markets and Dow's Futures 
3- Whole day actual trading between 8691-8760

Conclusions from intra day chart analysis 

As firstly trading with Mixed Patterns formations therefore down moves in last hours after sharp down of European markets and Dow's Futures but getting supports just below next supports range(8695-8736) and some recovery from lower levels in last minutes.

As more than 5 hours no clear pattern formations therefore Nifty has to prepare for next decisive moves but fresh selling in the coming trading session will mean sharp 100 points fall because next support are between 8476-8580. Day's closing is within supports range(8695-8736) at 8706.40 and firstly its valid break out should be watched for first signal of correction completion above 8736 or sharp fall below 8695.

As busy therefore Stock Market Outlook of today is not being updated

Firstly Watch Immediate Supports for First Indication

Technical Analysis,Research & Weekly Outlook

(Sep 26 to Sep 30,2016)

Previous 16 Sessions intraday charts analysis

Nifty-Intra Day Chart (Aug 31 to Sep 23,2016):-

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Technical Patterns and Formations in last 18 Sessions intraday charts

1- Hiigher levels selling and lower levels buying in last 16 sessions
2- 16 Sessions actual trading between 8689-8969 

Conclusions from 16 Sessions intra day chart analysis 

As last 16 Sessions sideways trading between 8689-8969 with higher levels selling and lower levels buying therefore firstly Nifty has to trade and prepare for next decisive moves beyond this range in the beginning of coming week and valid break of this range will confirm length of on going correction.

Intra Day Chart Analysis(23-09-2016)

Nifty-Intra Day Chart (23-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8854-8873
2- Whole day actual trading between 8821-8873

Conclusions from intra day chart analysis 

As nervousness due to conflict possibility on Pakistan border and selling developed immediate after opening between 8821-8873 as well as closing near the lower levels of the day therefore this range will be immediate resistance of Nifty. Until Nifty will not sustain above 8873 after complete fresh consolidation till then decisive up moves will not be seen and some more down moves can not be ruled out in the beginning of next week. 

Conclusions (After Putting All Studies Together)

EOD chart analysis of Nifty was updated in previous weekly analysis in "Firstly Watch Immediate Supports for the Life and Length of on going correction" and not being updated today because no material change in its structure in previous week.

Next resistances of Nifty are as follows:-

1- 8854-8873
2- 8874-8902
3- 8935-8956

Next supports of Nifty are as follows:-

1- 8761-8781
2- 8695-8736
3- 8476-8580(Multiple and strong supports)

Post Budget 1916-1917 rally is having character of fresh moves after consolidation within sideways market without any deeper correction and again previous 16 Sessions sideways trading between 8689-8969 with higher levels selling and lower levels buying therefore firstly valid break of this range should be watched because on going correction completion possibility within this range can not be ruled out. As sufficiently strong supports and resistances within this range therefore firstly Nifty has to prepare for next decisive moves between 8689-8969 which will be done in next week and finally this range will confirm the life,length and depth of on going correction.

Fresh selling last Friday and no consolidation yet after that therefore some more down moves are expected towards immediate supports(8761-8781) which will give first indication regarding the length of on going correction and should be firstly watched in the beginning of next week. 

Rally Continuation after Follow up Consolidation

Intra Day Chart Analysis & Market Outlook

(23-09-2016)

Nifty-Intra Day Chart (22-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 8838-8858
3- Up moves with intraday corrections in last hours
4- Whole day actual trading between 8838-8893

Conclusions from intra day chart analysis 

As blasting global markets today morning and in reaction huge gap up opening as well as whole day consolidation patterns formations therefore today started rally continuation is expected. Next resistances are as follows:-

1- 8874-8902
2- 8935-8956

Follow up consolidation within and near about mentioned resistances as well as valid break out of 8956 will confirm rally continuation which should also be watched in the coming 1/2 sessions.

8836 will Confirm Post FOMC Big Moves 

Pre-open Outlook(22-09-2016)

As only intraday volatility and as such one sided patterns formations were not seen and Indian markets completely under performed most Global markets yesterday therefore correction continuation below yesterday lowest(8758) was expected but US and all the Asian markets blasted after no rates hike and dovish statement by FOMC yesterday night.

1- Fed decision: Here’s how the S&P 500 performs historically
2- Stocks rally into the close as the Fed stands pat on interest rates

(Just click above topic links and go through news)

Certainly most Bullish sentiment today morning therefore in reaction strong opening of Indian markets will also be seen and valid break out of those crucial levels highest(8736-8836) will confirm next big moves which were updated on 20-09-2016 in "Post FOMC One Sided Big Moves Confirmations from Crucial Levels".

Correction Continuation Despite Whatsoever Announcements by FOMC Tonight

Intra Day Chart Analysis & Market Outlook

(22-09-2016)

Nifty-Intra Day Chart (21-Sep-2016):-

Technical Patterns and Formations in today intraday charts

1- Only Volatility
2- Whole day actual trading between 8758-8826

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Post FOMC One Sided Big Moves Confirmations from Crucial Levels":-

As mixed patterns formations today therefore Nifty has to prepare for post FOMC next big moves and that will be firstly done between crucial levels(8736-8836) tomorrow.

As was told 100% same happened today and Nifty traded whole day today within mentioned crucial levels(8736-8836) between 8758-8826 as well as prepared for post FOMC big moves on 22-09-2016.

Although most Asian markets closed in Green and some with good gains but Indian markets completely under performed all the Global markets today because most European markets were also trading with good gains and Dow's Futures was more than 60 points up during Indian trading hours.

Only intraday volatility developed and as such one sided patterns formations were not seen today but Indian markets completely under performed most Global markets therefore good selling on the back of strong Global markets can not be ruled out and resultant correction continuation below today lowest(8758) are expected in the coming sessions despite whatsoever announcements by FOMC tonight but high volatility can not be ruled out tomorrow on FOMC reactions.

Next supports below today lowest are between 8695-8736 and once its valid break down will mean sharp fall towards and below 8544. 

Post FOMC One Sided Big Moves Confirmations from Crucial Levels

Intra Day Chart Analysis & Market Outlook

(21-09-2016)

Nifty-Intra Day Chart (20-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8760-8791
2- Down moves in Bullish Falling Channels
3- Minor selling at higher levels 
4- Whole day actual trading between 8760-8816

Conclusions from intra day chart analysis 

Following lines were yesterday in "Emergence of correction continuation signal":-

emergence of correction continuation signal below day's lowest(8775) 

When US and European markets were trading strong and Nifty closed 0.33% positive yesterday then we told for Correction continuation below 8775 and it was seen with today lowest formation at 8759.30.

Although 0.37% down closing after most time negative zone trading today but only intraday selling patterns were not seen and consolidation patterns were also developed therefore today trading will be understood with mixed Patterns formations between 8760-8791 and firstly Nifty has to prepare for decisive moves beyond this range. 

Next resistances above 8791 are as follows:-

1- 8836-8847
2- 8874-8902
3- 8935-8956

Next supports below 8760 are as follows:-

1- 8695-8736
2- 8514-8580(Multiple and strong supports)

As mixed patterns formations today therefore Nifty has to prepare for post FOMC next big moves and that will be firstly done between crucial levels(8736-8836) tomorrow. Certainly those decisive big moves will be firstly decided from intraday charts patterns formations tomorrow and valid break out mentioned crucial levels which should be watched in the coming sessions for one sided big moves confirmations after FOMC announcements on 22-09-2016

Emergence of correction continuation signal

Intra Day Chart Analysis & Market Outlook

(20-09-2016)

Nifty-Intra Day Chart (19-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8806-8824
2- Whole day actual trading between 8775-8824

Conclusions from intra day chart analysis 

Although almost whole day positive zone trading and 0.33% positive closing also but intraday charts are showing only selling patterns formation therefore view will be cautious because it is emergence of correction continuation signal below day's lowest(8775) despite strong moves in US and European markets today.

Firstly Watch Immediate Supports for the Life and Length of on going correction

Technical Analysis,Research & Weekly Outlook

(Sep 19 to Sep 23,2016)

Nifty-EOD Chart (16-Sep-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7992 on 28-04-2016) 
3- Wave-2(7678.35 on 06-05-2016)
4- Wave-i of Wave-3(8294.95 on 07-06-2016)
5- Wave-ii of Wave-3(7927.05 on 24-06-2016)
6- Wave-iii of Wave-3(8968.70 on 07-09-2016)
7- Wave-iv of Wave-3 continuation with recent bottom formation at 8688.90 on 14-09-2016

Conclusions from EOD chart analysis

Corrective Wave-iv of Wave-3 continuation with recent bottom formation at 8688.90 and no confirmation of its completion yet.

Intra Day Chart Analysis(16-09-2016)

Nifty-Intra Day Chart (16-Sep-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 40 Points up in first minute after gap up opening
2- Mixed Patterns between 8820-8847
3- Sharp down after weakness beginning in European markets and Dow's Futures
3- Whole day actual trading between 8751-8847

Conclusions from intra day chart analysis 

40 Points up in first minute after gap up opening and higher levels 4 hours Mixed Patterns formations also but sharp down after weakness beginning in European markets and Dow's Futures.

As deep Red closing of most European markets and sufficient weakness in US markets also last Friday therefore negative zone trading may be seen in Indian markets next Monday. As higher levels Mixed Patterns between 8820-8847 last Friday and Global markets may also remain depressed next Monday therefore on going correction continuation is expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up.
2- Intermediate Term Trend is up and will be down below 8477.
3- Short Term Trend down.

Corrective Wave-iv of Wave-3 continuation which will firstly correct Wave-iii of Wave-3 according to following retracement levels:-

Fibonacci Retracement levels of Wave-iii of Wave-3(7927-8968):-

1- 13.0%- 8832(Retraced)
2- 23.6%- 8722(Retraced)
3- 27.0%- 8686(Almost retraced on 14-09-2016) with bottom formation at 8688.90
4- 38.2%- 8570(Crucial)
5- 50.0%- 8447(Crucial)
6- 61.8%- 8324(Crucial)
7- 70.7%- 8232
8- 76.4%- 8172
9- 78.6%- 8149
10-88.6%- 8045

Next resistances of Nifty are as follows:-

1- 8935-8956
2- 8874-8902
3- 8836-8847

Next supports of Nifty are as follows:-

1- 8695-8736
2- 8514-8580(Multiple and strong supports)

Correction is on and its continuation signals after sufficiently good selling at higher levels in previous week and Global markets weakness as well but lower levels good consolidation between 8695-8736 in previous week therefore this range will be immediate support of Nifty and its valid break down will mean sharp fall towards 8544.

Huge fall on 12-09-2016 after Global markets crash due to rates hike expectations by FOMC on 21-09-2016 and expected that Nifty will firstly prepare for post FOMC decisive moves between and near about immediate supports(8695-8736) therefore sustaining it beyond should be firstly watched in next week for the life and length of on going correction.