Nifty would be weak until 14th Feb 2018.
The C wave has completed with an ending diagonal , as per Elliott wave. The C.5 has also created a throw over in this ending diagonal.
The target mentioned in the chart.
The chart may show sideways movement, but target should remain the same.
The attached Nifty chart is for educational purpose only.
The C.5 wave on the hourly chart shows a completed C.5.3
C.5.4 in progress . It can make either a regular flat or a triangle.
C.5.4 is retracing the prior wave by 38.2 % with target 10511 ( max 10504 where C.5.1 has completed ).
The target of C.5.5 will therefore...
One can go short in Nifty below 10130 levels, for a target of 9710 with Stop loss at 10170.
Various indicators (RSI, Money flow index)0 have given a negative divergence in the index. One has to wait for a confirmation of level below 10130 for a extremely fruitful entry.