The Nifty Future retraced just above 81.0% of its fall from the top of 10947.9 to the low of 10408.55 to reach a high of 10873.5 in 3-wave formation. It is now expected to move down with 10852 acting as a crucial trend deciding level for today.
The Day traders can sell it below 10849 with a stop loss of 10873 for the target of 10776 and 10741 and buy it above 10873 with a stop loss of 10849 for the target of 10894 and 10948.
The positional traders holding a long position should move the stop loss to 10810.
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