NIFTY






NIFTY (7222) - Chart of NIFTY was posted on 15th Jan  with marking. (that time it was trading at 7500+.)

Once again i repeat the same chart with same marking and now it includes  the Budget day low.

***

NIFTY 2011-2016







****


NIFTY 2008-2016




*****

After gone through the above two charts,
any body can understand the importance of 6800+.

Can come to a conclusion that  completed the first leg of rally top of 9119 and its correction bottom of 6825. 

******

Now it is time to start the second leg of upward rally but it is very long time consuming process.
(lot of consolidation , congestion, grinding and little bit of volatility will be part of the process)


*******

In case if it close below 6800, then we will look the next downside pan out until then forget the down side other than 6800+ bottom.