Bank Nifty - What A Fall !!! 43500-43600 / Upside Push?

Jan 5, 2023

Disclaimer
There is a very high degree of risk involved in trading. Past results are not indicative of future returns.

Short Video
The current fall looks very sharp & nature of X-wave from wave analysis perspective & as suggested if 42400-42500 holds then bounce can be expected upside towards 42800 / above 42800 to 43100-43200 / above 43200 for highs of 43500 back


Once it falls below 42298 - current day, it can attempt 41597 lows as per Plan-D from last move / idea for 2022.

Thanks for watching.

Jan 6, 2023

Trade active

10:20 AM / 6th Jan 2023

Last @ 42325

Index is in complex correction & it will do ups & downs several times + you have to take care as suggested that every upside bounce selling will be coming. This zone 42400-42500 is important with +/- 100 points on either direction

that means 42300 which is 100 points below & 42600 which is +100 points above the range 42400-42500 are most important levels & Index will move in respective direction -if holds

Jan 6, 2023

Note

10:53 AM / 6th Jan 2023

Last @ 42350

Traders's emotions will get tested close to 42300 downside & 42600 upside as suggested in the last comment above.

Jan 6, 2023

Note

12:13 PM / 6th Jan 2023

Last - 42308

To avoid any surprises traders have to take position next either above 42375 or going below 42300 this time can be sharp move downside testing 41900-41950 minor support zone

Jan 6, 2023

Trade closed manually

12:31 PM / 6th Jan 2023

Last - 42232

Dropped to 42193 . Kindly manage the risk & trade carefully. Thank you

Jan 6, 2023

Trade closed manually

1:36 PM / 6th Jan 2023

Last @ 41971

Day Low @ 41916 ----------Index slipped to 41900 -41950 zone as suggested an hour back. Thank you

Last Picture of the Day for BankNifty.