The Nifty Future may have started its ‘C’ wave decline of the flat correction, as shown in the chart, with the probable target of 10335 and 10230. This analysis holds true as long as the top of 10873.5 made by wave ‘B’ is held. The end of this wave will probably provide the best entry point for the bulls and has the potential to cross its all-time high of 11185.6. The target will be calculated once this wave is complete.
The day traders can sell it below 10800 with a stop loss of 10835 for the target of 10732.
The positional traders can create a short position below 10815 with an initial stop loss of 10876 for the target of 10335.
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