16/09/2016
Support : 8731-38, 8704
Resistance : 8786-89, 8824
Nifty completed a 5 wave down move towards expected target of 8680 making a low at 8689 to complete the "A" wave of this correction. Now we could be in the "B" wave which is the most difficult to trade as it can retrace 100%. For today 8786-89 will be tough zone for Bulls to cross and sustaining above that can target 8824, 8856 levels. After completing this up move, Nifty could fall again below the low of 8689... Positive bias for the day.
