The NSE index is biased to test a support at 11,676.6 before further gains. The level is identified as the 76.4 per cent Fibonacci retracement level of the move from June 19 low to June 20 high.

The wave pattern suggests that the index is still in the corrective wave C of the shorter duration uptrend from June 19 low to June 20 high. The correction is expected to end in a couple of hours and may end at the 76.4 per cent retracement level.

The index formed a descending trendline in Friday's trade; a rally is expected once the trendline is broken on the upside. On the downside, June 19 low of 11,625.1 is a crucial support for the index, a break below which may lead to a downtrend.