BANK NIFTY.... THE FINAL EUPHORIA....
As per Elliot's wave pattern on the downside, Bank nifty is currently moving in the 4th wave.
The structure formed is one of the classical patterns of wave 4 - A horizontal flat.
We have had enough volatility recently (again, a classic of wave 4), and now it looks like the final leg of wave 4 is ongoing.
We could see a resistance trendline from which Bank Nifty fell thrice. We expect a bigger fall (wave 5) soon in the Bank Nifty chart.
Bank nifty can fall to 45000-45500 levels, and I'm expecting a decent rally from there (a curtailed wave 5 resulting in a larger trend resuming in the opposite direction).
Keep cash ready to invest at the right time (maybe around 45000 levels). Not an intraday trading idea; place appropriate stoploss.
The structure formed is one of the classical patterns of wave 4 - A horizontal flat.
We have had enough volatility recently (again, a classic of wave 4), and now it looks like the final leg of wave 4 is ongoing.
We could see a resistance trendline from which Bank Nifty fell thrice. We expect a bigger fall (wave 5) soon in the Bank Nifty chart.
Bank nifty can fall to 45000-45500 levels, and I'm expecting a decent rally from there (a curtailed wave 5 resulting in a larger trend resuming in the opposite direction).
Keep cash ready to invest at the right time (maybe around 45000 levels). Not an intraday trading idea; place appropriate stoploss.
交易進行
A stop-loss hunt was there above the trendline, and then the fall was as expected!
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