TradingSutra

NIFTY: preparation of a zig-zag correction ?

Short
NSE:NIFTY   Nifty 50 Index
Nifty can repeat the fall of september again which was in a form of zig-zag having the initial run as leading diagonal .

Trading strategy :

1. Buy nifty on dips for target of 15000-15050 , holding 15050 can extend to 15200-225. maintain SL of 14465 on the downside.

2. As soon nifty reaches in the resistance zone and starts rejecting then , create sell position close to 15250-300 with SL of 15350 for the downside objectives of 13700-500 .



Manish Bhardwaj
Analyst & Co-Founder
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