Update on Nifty Daily Chart EOD dated 24th August, 2015

Nifty has completed an x-wave and have started with second leg of correction. The a-leg down of the 2nd leg of correction may conclude on 25th morning (Tuesday).  Nifty is likely to pullback for b-leg up thereafter. 7723.85 is the place of strong support. If this doesn't hold risk for 7500 is high.