Banknifty recovered up after fall from 34820. Currently wave 2 of zig zag in progress.
Risky option would to go short near 34700 with SL 34820 or can wait for confirmation break of 34530 for downside fall minimum target 34000.
Wave 3 will go beyond 1.618 fibonacci extensions level. Channel break needed for sharp fall so watch as plotted on chart.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
Risky option would to go short near 34700 with SL 34820 or can wait for confirmation break of 34530 for downside fall minimum target 34000.
Wave 3 will go beyond 1.618 fibonacci extensions level. Channel break needed for sharp fall so watch as plotted on chart.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
