Nifty Future for the Week Jan 5-9 - Rakesh Chandra

Sometime back we have projected Nifty advance chart (below right) , and the current chart is following the previous one exactly. As wave has unfolded let us do more micro chart pattern analysis (left).
The major wave direction is downward. Still we cannot say on a weekly basis the 4th wave has completed. On the broader chart pattern it may form triangular chart pattern.

The current d wave downward then we would see an e wave upward, and then completion of 4th wave (of a 5-wave series).

With stoploss 3,083, short below 3,043.27 for lower target >2,979>>2,875>>>2,811.