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.