The Nifty Future has the support at 10704 and 10691. A break of this support will confirm the completion of wave (B) of Wave 2 and beginning of wave (C) decline with a target of 10335 regions. Expect the pace of decline to accelerate on a break of 10691 which is the typical characteristic of a (C) wave of the Flat correction. This decline should mark the end of the wave 2 correction.
The day trader can sell it below 10715 with a stop loss of 10766 for the target of 10626.
The positional traders can add more sell position below 10691 with a stop loss of 10806 for the target of 10335.
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