Nifty 50 Elliot waves

NSE:NIFTY   Nifty 50 Index
5th wave extension of nifty .
Nifty extended to 0.618 and now heading towards next level which is around 0.786 extension (16692).
Zone of 16650 to 16700 will act as strong resistance and might b possible of reversal.
Always use SL and never b in open ended trade.
Never risk more than 5% of capital in single trade.

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