Nifty 50 Elliot waves

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.