Nifty Bank IndexPenjualan
Going Short on Banking Stocks? Elliotical Approach to BankNifty.
Hello Traders!
1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020.
2. We see a clear zigzag correction for Wave a, marked with red ABC.
3. We see a 3-wave Wave b. The count of wave C of this wave is being shared here for clarity.
4.The most expected target for BankNifty should be around 30500. This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle falls very close to the Wave 4 of Wave 3 of the same cycle. A figure is attached for more clarification.
5. The final 5th Wave of the impulse is expected once the C wave of this 4th wave is complete as shown on the chart.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020.
2. We see a clear zigzag correction for Wave a, marked with red ABC.
3. We see a 3-wave Wave b. The count of wave C of this wave is being shared here for clarity.
4.The most expected target for BankNifty should be around 30500. This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle falls very close to the Wave 4 of Wave 3 of the same cycle. A figure is attached for more clarification.
5. The final 5th Wave of the impulse is expected once the C wave of this 4th wave is complete as shown on the chart.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.