|NIFTY WEEKLY CHART|
This down trend starting from 6233 will be in 5 waves.
This first set of 5 wave (forming wave 1 of C) is likely to end at 5529 as per golden ratio, if we go down further into the internals of wave 5 it suggests end point closer to 5555. So for now I anticipate fall to stop in the range of 5555-5529
|NIFTY EOD CHART|
For now wait for a 3 wave up-move to initiate fresh shorts for big gains. If one can manage to trade, upmove of 300-400 pts is on cards.
Happy Trading !