NIFTY ( by EOD Oct 17)

Sell On Raise.
Observations:
(1) 61.8% retracement of the fall from 8159.75 to 7723.85 is 7993.24. With respect to the downward blue channel indicated in the day chart, channel-R1 and R2 are around: 7897 and 7985.
(2) Pending retracements of the indicated upmove (in the week chart) are: 38.2 and 50. And channel support1 and channel support2 are in that area.

ITC ( by EOD Oct 17)

Observation:
(1) Caution: Doji is seen in the week chart.
(2) Every week, price is swinging between top and bottom of the down channel.
min charts will suggest the points at which we should short and the place where we should buy.