NIFTY may have not had its crash

If you overlay the SPX from its last low on May 3 to the NIFTY chart, there is a very good fit up to the top, and the recoveries are similar to the SPX on Nov 7 and Dec 3. This suggest NIFTY may not have had its crash yet (although optimists would say NIFTY was ahead, fully corrected and recovering).

January will tell, but there is little support before the Sep 16 pre-Trump 8960 support, which is a long way down.