I want to clear one thing that by sharing this idea i am not asking any one to trade on the basis of this. Please do your own analysis and then risk your hard earned money.
We are at important point in price and valuation of NIFTY . Current PE is around 24 and we are testing all time highs with the help of strong uptrend.
We completed 100%+- of earlier fall in 191 days or 121 trading sessions. We tested all time high level of 9119 in March 2015 and price started correcting. Bottom of 6826 was made on 29th Feb 2016 so correction was on for 245 trading days or 362 days. So the up move took half of the time of fall to reach 100%.
For coming weeks we may move with large numbers, I have marked demand and supply zones on chart to understand where we can place the trades and where we can exit. We are in and testing lower level of channel. One needs to be watchful with all this setup with trading. Idea of trade plan needs to be clear.
Two trades which are visible on chart are example trades.