BANK NIFTY is correction over?
Updated
Indeed it offered opportunity to but when it fell
just below the center line of the the channel
and at the stochiastic support line.(indeed I had bought 36600 ce at 115 and squared off around 240)
it was undergoing abc correction.
At this point it appears the correction is over.
But in some cases double zig zag correction do take place.
Then how to deal with it now.
first we have to ensure today's low is not violated if violated further down side possible.
Better to wait and close it above 20 period moving average in hourly time frame.
then we can be ensure its further upside is possible.
if tomorrow it declines in the opening wait for 1 st hour candle and keep stop loss below that candle.
don't forget to like my post.
follow me to get updates.
It is indeed late night can't write further.
just below the center line of the the channel
and at the stochiastic support line.(indeed I had bought 36600 ce at 115 and squared off around 240)
it was undergoing abc correction.
At this point it appears the correction is over.
But in some cases double zig zag correction do take place.
Then how to deal with it now.
first we have to ensure today's low is not violated if violated further down side possible.
Better to wait and close it above 20 period moving average in hourly time frame.
then we can be ensure its further upside is possible.
if tomorrow it declines in the opening wait for 1 st hour candle and keep stop loss below that candle.
don't forget to like my post.
follow me to get updates.
It is indeed late night can't write further.
Note
Trend line arrow should be pointed to the stochastic trend lineNote
wahh what an end. It came as per my expectation. really satisfied with my study.It appears rally will start now.
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