BANKNIFTY Just a View
Updated
As seems from the chart we have 2 no of possibility 1 I have depicted here. We have completed A (subdivisions 12345), B (subdivisions wxyxz) and hoping for C wave is in progress from today. And it may subdivide into 12345. Things that making this possibility likely are mentioned below:
1. The channel drawn from beginning of A to B end at C nearly 43943.
2. The projection of C==A is also falling at 43943.
3. today's move from bottom to mid of 1 is indicating wave 2 which is .618 of wave 1.
The above point making possibility to be strong. We will review after price action of the morning. In our last analysis we were looking for the chart pattern H&S, but H&S not always are followed by wave patterns.
Disclaimer : I am not a registered analyst with the Securities and Exchange Board of India (SEBI) or any other regulatory authority. The information provided here is for educational and informational purposes only and should not be considered as financial advice. Any investment decisions you make should be based on your own research and consultation with a qualified financial advisor. It is important to note that investing in securities involves risks, and past performance is not indicative of future results. I strongly recommend consulting with a licensed financial professional before making any investment decisions. I do not accept any liability for any loss or damage incurred as a result of reliance on the information provided in this communication. Always conduct your own due diligence and seek professional advice before making any investment decisions.
1. The channel drawn from beginning of A to B end at C nearly 43943.
2. The projection of C==A is also falling at 43943.
3. today's move from bottom to mid of 1 is indicating wave 2 which is .618 of wave 1.
The above point making possibility to be strong. We will review after price action of the morning. In our last analysis we were looking for the chart pattern H&S, but H&S not always are followed by wave patterns.
Disclaimer : I am not a registered analyst with the Securities and Exchange Board of India (SEBI) or any other regulatory authority. The information provided here is for educational and informational purposes only and should not be considered as financial advice. Any investment decisions you make should be based on your own research and consultation with a qualified financial advisor. It is important to note that investing in securities involves risks, and past performance is not indicative of future results. I strongly recommend consulting with a licensed financial professional before making any investment decisions. I do not accept any liability for any loss or damage incurred as a result of reliance on the information provided in this communication. Always conduct your own due diligence and seek professional advice before making any investment decisions.
Note
someone benefitted?Note
broke down the wxyxz channel a retest may happenNote
a pullback upto 46700-46800 may comeNote
PULLBACK DONENote
Is nifty in pullback zone?Note
banknifty in oversold zoneNote
now looks in sell range againNote
BANKNIFTY CAN RETRACE UPTO 47200 IN MY VIEW THEN A SHARP DOWN...! NOT FOR TODAY...Note
market completely has no clue where to move finally it will come to the level we have mentionedNote
47273 was the level of 61.8 retracement which probably banknifty has breached as of now. sustaining above it will invalidate....! however wave B can retrace up to the level of begging of wave A even beyond in case of flat correction.
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