Nifty Bank IndexLong
BN - Can it now bounce back to aim 40500+?
As per Wave Theory, BN seems to be preparing to have a biggest short covering to aim the ultimate target of 40500+
but actual short covering would be quick only abv 38200+ spot which is 61.81% of Wave-3
Stop loss for this view of 38.2% on Wave-3 to Wave-4 range viz., 38400 on hrly charts cls basis
if its sustained abv, can try Bull Spreads like Buy 39000 CE & Sell 41000 CE Feb monthly expiry
but actual short covering would be quick only abv 38200+ spot which is 61.81% of Wave-3
Stop loss for this view of 38.2% on Wave-3 to Wave-4 range viz., 38400 on hrly charts cls basis
if its sustained abv, can try Bull Spreads like Buy 39000 CE & Sell 41000 CE Feb monthly expiry
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