The Nifty Future, in the daily chart, appears to be in Wave ‘B’ advance of the flat correction which is its final leg or complete. It has lost its momentum on the upside and is poised for a decline to 10335 which will be the wave ‘C’ of the flat correction. I expect the Wave ‘C’ decline of the flat correction to start very soon.
The Day traders can sell it below 10785 with a stop loss of 10811 for the target of 10726 and 10792.
The positional traders can maintain the short position with a stop loss of 10876 for the target of 10335.
Email comments or questions to firstname.lastname@example.org
Vinay Agrawal will not accept any liability for loss or damage as a result of reliance on the information contained within this tool including data, quotes, charts and buy/sell recommendation. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Future and options trading on margin involves high risk and is not suitable for all investors. Before deciding to trade in Equities, Commodities, Currency, Derivatives or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.