Nifty Hourly Chart at 11.30 AM 27th March, 2017

The first leg of up move from 7896.1 may have completed on Friday at 9133.55 with g-leg of the diametric completing as c-failure flat(Confirmation below 9019). Now unless 8860 is broken on the downside during this corrective leg to the up move another rally will come as the Second leg of the up move thereafter. We have to be cautious for 2/3 days more to see whether this is an x-wave or a larger corrective is unfolding from here.  8934 is a crucial support on the downside. The assumptions are based on the chart price story that is visible now and if the story changes the chart will also change.