View on Nifty - From the swing high of 18880 levels this seems to be a corrective pull back (bearish N waves as observed from the earlier top of 18600levels). It appears that the possibility to break 17400 is quite high and subsequently additional swing lows perhaps at 17000, 16600 and 15970 are possible. My own favorite is some where at 16600 levels. This would mean Nifty makes a higher swing low and a bigger bullish N wave with a possibility to break 18880 down the year.