Banknifty is forming a Elliot wave pattern with Lower High's and lower low's. For 17th May 2021, we may see some retracement, from 32000 if the index managed to stay above the support line.
After that, it will continue its downtrend to complete the wave pattern.
Please share your valuable feedback.
Disclaimer: Please do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.
After that, it will continue its downtrend to complete the wave pattern.
Please share your valuable feedback.
Disclaimer: Please do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.
Trade closed: target reached:
Retracement from 32000 happened and reached till 33000
Trade closed: stop reached:
Short trade was failed. Sl Hit. Reversal did not happened. Market turned bullish