Market is at selloff
however it touched 7241 on 20th jan 2016

A new low may be 7160 in the near trading days but there will fast reversal from that level


Above is the monthly chart
We are in the fourth wave of the third grand cycle,  which according to general rule of fibonacci  range,  has touched 7330.
However month is not ended so if i the coming week nifty stays above 7330 on closing basis
we can see the fifth wave of the third grand cycle in the offing.


 market is subject to risk
only time will tell




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