Considering end of wave e(triangle at 10864 level) and wave 1 completed today, we may get good opportunity to ride wave 3 by shorting at 10780 to 10825 level where wave 2 might complete. Keep Sl 10924, technically SL will be 10865 but if triangle has not yet completed and still in WXY pattern then 10924 will be the SL. We will keep alternate waves in mind while trading.
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okay so it is not a diagonal as expected and we didn't ignored alternate wave count. We will also assume e at 10693 level(low of yesterday) then y will be near 11100/200 level. If nifty crosses 10925 we can expect more upside.
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Overall do not short if you cannot see any impulse wave downside or keep strict sl at 10925
Comment:
as expected we get an upside breakout, will wait for dips to go long