Nifty Future intraday 15-minutes chart suggests the rise from the low of 11175.25 appears to be in a 3-wave corrective pattern with the potential target of 11250-11258 region.
Wait for this correction to complete. On reversal and then the break of 11225 will provide a selling opportunity.
The Day traders can then sell Nifty Future with the stop loss of 11266 for the target of 11147-11150.
A long position should be avoided for the day.
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.