Banknifty wedge pattern breakdown and near support

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Banknifty after breakdown from wedge pattern given
vertical fall towards 50550

Important fib level to watch
61.8% : 50465

Improtant gap area low 49655.

Shorters should be cautious near above two levels as vertical falls mostly retraces fast on upside..

I am personally will not short near important levels and will wait for bullish pattern to form near support zone.

Discalimer : i am not SEBI registered.. study is only for educational purpose

評論

made high near 50800 till now from golden ratio support..

reminded not to short near important support

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50892 high made

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50942 high made

交易結束：目標達成

high made 51013.. profit booking advisable near psychological level

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51192 high made intraday...
banknifty moved as expected in morning analysis that
wedge breakdown with vertical fall tend to retrace fast on upside...
took the support of golden ration near 50465 and given a rally of 600+ points
in intraday... enjoy the profit