Bank Nifty Next Move and Possible Reversal Zones.
Actualizado
Bank Nifty is in a nice downtrend, and we feel it's forming a "WXYXZ" wave pattern.
Ichimoku Signals: One hour Cloud SSB rejected the price and currently trading below TS KS, indicating the bearish trend will continue and go down for wave Z, and expected destinations are:
127.2% == 49342
161.8% == 48935
Stop Loss = One hour candle above TS KS (50573) should be fine.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Ichimoku Signals: One hour Cloud SSB rejected the price and currently trading below TS KS, indicating the bearish trend will continue and go down for wave Z, and expected destinations are:
127.2% == 49342
161.8% == 48935
Stop Loss = One hour candle above TS KS (50573) should be fine.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Operación cerrada manualmente
More than 600 points fall in 2 days and currently Bank Nifty is trading at daily ichimoku Cloud Support and Weekly KS is very near so we decided to square off short positions.
Current Market Price is 49705, look for a reversal trade with small 60-80 points stop loss. Bank Nifty might touch 51K+ in coming days.
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