Nifty : Probable Correction On Completion of Top at 'D'

Nifty 50 Index (NSE:NIFTY)

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NSE:NIFTY Nifty 50 Index

Dear All , Nifty is Forming A Channel from Last 4 Months And By Following the Channel And Applying Wave Theory on It , We can find that A Correction is Likely to be Seen Here . On Second Chart of Nifty , The Price is Resisting Near the Upper Band which indicates A Correction in Near Term ... So Better to Wait for A Correction And Buy Good Mid-Caps And Small-Caps on 20-30% Discount ... Strategy for Nifty is :

" Short At 10,775 For T1 : 10656 , T2 : 10504 T3 : 10440 With SL At 10850 "

Please Consult Any Technical Advisor Before Making Any Position ... Good Luck !!!

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Fell After Touching Mentioned Levels ... Open Interest is Rising while Nifty is trading in Discount ... Best Opportunity for A Corrective Move ... All Followers , Get Ready ... :)

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Formed the Top ... Time for A Correction ... :)

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As Indicated Earlier , Nifty formed A Top and Correcting as well ... Better to Avoid Fresh Entry ... :)

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Carrying the Stop-Loss at 10838 Levels And Still Nifty is in Corrective mood ... Rising Wedge Pattern is Obtained from Daily Charts ...