Nifty Future for January 7 - Rakesh Chandra

The Nifty hourly chart analysis shows the

4th downwave price target has been met but has to spend more time in the 4th wave. Thus, any upside price will not sustain. Chances are that this is a triangular zig-zag formation. Book profits on the upside and buy any lows with stop loss.

With 3,127, buy Nifty future above 3,139.60, with up target >3,161>>3,195>>>3,216.

With 3,140, short below 3,126.50 with lower target >3,105>>3,071>>>3,050.