NIFTY seem to have started wave C of ABC down. At the minimum, we should be looking at 23000 target which is 61.8% of wave A. 78.6% and 100% (equality) are around 225000 and 22000 respectively.
Having said that, wave C might evolve differently though the trend should remain down largely from here. Expecting all major swing highs (hourly/daily) to hold from here though expect sharp pullbacks every now and then as we move down.
