After a recent high of 11800 , nifty has given a fall to the level of 11185 with a pattern called a LEADING DIAGONAL.
Leading Diagonal is formed when a new trend is going to start or at the starting of a ZIGZAG CORRECTION for the prior move.
As per the current structure , we can assume it is going to have a zigzag correction.
Trading Strategy:
Sell in the range of 11600-11700 keeping stop loss of 11810 for the target zone of 11200/11090/10900
Leading Diagonal is formed when a new trend is going to start or at the starting of a ZIGZAG CORRECTION for the prior move.
As per the current structure , we can assume it is going to have a zigzag correction.
Trading Strategy:
Sell in the range of 11600-11700 keeping stop loss of 11810 for the target zone of 11200/11090/10900
Comment:
third wave , still have room on downside , but after a slight recovery as wave 4
Comment:
the move can extend to 10850
Trade closed: target reached
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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@TRADINGSUTRA @WAVESUTRA
Analyst & Co-Founder
www.tradingsutra.com
www.waveutra.com
INSTAGRAM-
www.instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA
