Nifty Weekly Outlook for Week Starting 08 October

Flash Crash Nifty  has been dramatic and opens a can of worms on how vulnerable are capital markets to human error where a dealer punching a wrong number can lead to a900 point fall in Nifty and a algorithm going berserk can cause a 440Millon $ loss to Knight capital in US (Happened on 22 Aug 2012).
Coming week Infosys will be declaring its Q4 results on 12 October and we have IIP data also. Also investor sentiment took a beating after what happened on Friday.
Do remember Flash Crash are call of future as happened in past history when NF crashed from 5300-5000 on 20  April 2012 or the May 2011 crash of Dow Jones of 1000 points. All rates were seen after few months, so lets see WILL this time history repeat?
Whats in store for next week lets jump and see the Nifty technical outlook

 Nifty Hourly Chart

Nifty Hourly chart took support at channel bottom of  5706. Close look at Hourly chart reveals 11 Hourly candles retraced in a single red candle which shows the case of fast retracement .Till we hold 5690-5706 range possible move till 5815-5852 do exists.

Are Nifty Gaps Filled after Flash crash?

Many traders have asked me is the gap filling completed in Nifty after we saw it falling till 4888. My answer is emphatic NO.
Let me put down my reasoning ..

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