Nifty Future, in 60-min Chart, appears to have completed Wave(iv) of wave (iii) of 3rd wave decline and is poised for a downside wave(v) of wave3 for the target range of 10839-10834 region.
The positive divergences in RSI indicate that the Wave3 is near its completion and wave4 bounce to occur which will retrace to 11138 to 11175 region.
The day Traders can sell it below 10998 with a stop loss of 11026 for the target of 10840.
The positional traders can wait for Wave(iv) bounce to initiate a short position near 11138-11175 region for the target of 10767.
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