Nifty Future for January 16 - Rakesh Chandra

Let us go through the Nifty hourly chart, a view based on Elliot wave theory. So far, all the wave coutning has been proper mentioned. Now the 5th down is on card. The day range for 5th wave is as follows.

With Stoploss 2,826, short below 2,816.09 for next week's lower target >2,800>>2,774>>>2,758;

With Stoploss 2,831 short below 2,810.89 for next week's lower target >2,778>>2,725>>>2,692.