Nifty’s Final Shakeout? Ending Diagonal May Be the Exit ClueNifty appears to be unfolding a WXY corrective structure:
Wave W ended at 24,462.40
Wave X bounced up to 25,079.20
The current decline looks like Wave Y, forming a classic ending diagonal
Ending Diagonal Details:
Overlapping waves with a contracting structure
Final Wave 5 of the diagonal may be unfolding now
Invalidation level (for stop-loss logic): 24,864.25
If price moves above this, the wave structure is likely invalid
Target Zone:
Wave 5 projected to complete between
24,522.55 and 24,311.50
(using 1x to 1.618x of Wave 1 within the diagonal)
Summary:
If the diagonal plays out, a breakdown toward the green box is likely.
Above 24,864 , the setup is invalid. Watch price action closely.
