NIFTY: preparation of a zig-zag correction ?

30 Mar 2021

Nifty can repeat the fall of september again which was in a form of zig-zag having the initial run as leading diagonal.

Trading strategy :

1. Buy nifty on dips for target of 15000-15050 , holding 15050 can extend to 15200-225. maintain SL of 14465 on the downside.

2. As soon nifty reaches in the resistance zone and starts rejecting then , create sell position close to 15250-300 with SL of 15350 for the downside objectives of 13700-500 .