Bank Nifty-Truncated Wave to Halt below 39K-Can it be explosive?

Exciting Session on 16th March 2023 unfolded with a temporary bounce from day lows of 38613 towards 39300 approx & a fall back to 38750 approx without making a new low or breaching below 38613 - puts strong case of truncation.

Truncation is rare to happen suggesting that ongoing trend could abruptly halt in between & take a sudden reversal which could be possible case here & even highlighted 2 days back that we are close to the bottoms & looking for decent retracement & targets mentioned in last idea of 14th March 2023.

Thank You & Good Night!

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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