Nifty is near to first major support around 16565-16620. This support zone also matches with upper trendline of rising wedge. Resistance line may become support for time being. Final major support is in the broad zone of 15900-15600. 15% correction from top is normal in bull market. 15800 is the level which comes after 15% correction. 16800 is 10% correction level. At some point of time in December, budget rally should start.
Disc : It's not an investment advise to buy or sell