Nifty - Magical Charm (Totka) @11320Totka used in Idea is called Reverse Fibonacci
Using the previous leg & measuring its 138.2% gave us the top 11117 - can we get the top again at 11320- no confirmation yet so only risky traders to take sell in 11300-11320
Note - Going above 11320 ( Sell call is negated - close all sell positions & out)
Trading Strategy
Plan A - Sell below 11265 on closing basis as discussed
Plan B - Risky Sell close to 11300-11320 zone with stops above 11325
Downside Target
11000-11025
Below 11000 - 10940
Below 10890 for 10750
Below 10730 for 10620
Only further selling if double bottom@10585 gets broken
