Nifty -Possible Leading Diagonal-Selling from the Tops @10550

NSE:NIFTY   Nifty 50 Index
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Leading Diagonal (Type 1 Diagonal) Question in Level 3 CMT Exam

Real-Life Story - In 2015 - Got Question in The Final Level 3 -CMT Exam - What is Type 1 Diagonal which I got a logical solution just by connecting the pieces & thinking about Ending Diagonal (Type 2 Diagonal) which ends the structure whereas Leading Diagonal (Type 1 Diagonal) starts the structure- helped me to crack the question.


Questions which we need to ask ourself in the current scenario - Is this a Big Leading Diagonal from 7512 to 10552 then also deep retracement is possible & holding 7700-8000 zone with minor supports 8800-9000 can open the extreme bullish scenario


Trading Strategy

Selling From 10540-10560 as suggested in the previous video ideas & status update or Sell Below 10300 for 10000 / Below 9950 for 9700-9725 / Below 9700 for 9550 -More on the downside if 9500 gets broken

TradingView Profile Page



Trade active: 12:48 Hrs / 25th June 2020

Last price @ 10224

Intraday 10200 would be minor support & if Nifty crosses above 10225 & holds above that level then expect upside push for 11300 / 11350 /11375 targets as relief targets to sell later.
Comment: Sorry Typo Mistake Again - Expect Upside Push to 10300/10350/10375
Trade active: 13:47 Hrs / 25th June 2020

Last price @ 10318


Nifty Jumps 100 points above the expected level of 10225 - running for target 2 - 10350 & 10375 next
Trade active: 13:51 Hrs / 25th June 2020

Last Price @ 10350

Target 2 done ---------------------10350 - Heading Next for 3rd Target 10375
Trade active: 15:17 Hrs / 25th June 2020

Last Price @ 10279

Strictly -If Holds Above 10275 - We look for Upside Push to 10350 & 10375 else we close for the day.

Thanks & Goodbye
Trade active: Photo for all my followers

1st upside rally we got from 10225 to 10350 - Next Expecting back to 10350/ 10375 if Index holds above 10275

Current low was 10270 - Can we get it? (Going below 10275 - We won't participate)

Trade closed manually: 09:22 Hrs / 26th June 2020

Last Price @ 10365

Index Completed 100+ Points push & completed our upside target. Thanks & Good Bye

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle


Absolutely agreed! very well explained Abhishek! My contribution to the same analysis:
+2 Reply
what a great update bhai.. dil garden garden ho gaya
+1 Reply
Sir, My heartiest congratulations to you ---@ unveiling Brand Logo -"WAVE TALKS"... Wishing all the best ...
+1 Reply
Excellent analysis and even there are divergences at the top so market likely to fall. Lets see
+1 Reply
suhilarc Tapas321
@Tapas321, really?? when?
Wow!! Sooperb the brand too!! :-)

Let it be the trademark!
+1 Reply
The wave count satisfies 5-3-5-3-5 for a leading diagonal. However as the name suggests to lead a move shouldn't the leading diagonal also be in the same direction.. .. I mean if it was a bearish move then shouldnt the leading diagonal point downward...(descending) and not ascending... Just a question ?
+1 Reply
@sabu_m, Once the higher degree wave -leading tonal is done - we have retracement so we are expecting fall from the tops at 10550 as suggested in ITC Video / Reliance Video Ideas as a warning to all followers. If falls extend below 8000 Then I will be little cautious as chances of becoming a bearish pattern would be higher, in that case, I won't take this as leading diagonal.
@sabu_m, Correction- Typo error - Its "leading diagonal" instead of "tonal" written by mistake
great ideas Sir, thanks for valuable information..
+1 Reply
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