Nifty Future for January 12 - Rakesh Chandra

The D wave is still pending.

With stoploss 2,852 buy above 2,869.94, for next day up target> 2,899>>2,945>>>2,974.

With stoploss 2,870 next day short 2,852.16 next day with low target >2,823>>2,777>>>2,748.

Let us progess from our previous forecasted chart. We are currently riding on c-d down wave target, and d wave target area looks like near 2748. Chances that we see some upside as e wave progresses. However,
before riding e wave, wait for the market up day to close close up, or let the market cross intraday buy level.

Since this e wave is a small upside zone, and the major wave is downward, we will be interested in adding a partial buy postion at lower side with selling 3000 call option as protection.