M&M FINANCE: Bullish (Ending Diagonal)

This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began.

Trading Strategy:

Buy on cmp , add on dips , keep SL of 150 & look for the target of 173/180 zone