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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):-
Just click on chart for its enlarged view
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):-
Just click on chart for its enlarged view
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