Now that the new year has started, lets try to find out whats in store for nifty.
As per me, we are in C wave of Nifty
A wave completed at 8968 - 8002
B Wave was a fast retrace Wave from 8002-8598
Now C is going on- - 8598-7400 (Probably)
In C wave, Out of 5 waves, we have completed our 1st wave at 7893.
2nd Wave either got completed today at 8306 or may complete near 8447. (IMO - it got completed today at 8307.
3rd Wave might get completed near 7630