We have completed 61.8% retracement for the last up move numbered as 1. We can further move down till the invalidation level for completing 2. If the price break the invalidation level the alternative count shown as abc will work, on breaking the invalidation level we can confirm that NIFTY is making double zigzag and the last leg may complete in the range of 16800-16600 level.
Please do your own research/analysis before any trade execution.