padiyara

BANK NIFTY: 20876 Above 20850 it can go 20930 & 21026 Below 2085

Long
NSE:BANKNIFTY   NIFTY BANK
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5
Above 20850 it can go 20930 & 21026
Below 20850 support 20680 & 20462

Trend Line support marked 20462 must be the Stop loss for long. Remain bullish in intermediate to minor term until it turn around with a minimum 38% loss of the total gain. Below that one can logically think a bearish view. But minute, minuttee, and lower time frames may whiteness corrections.


Comment: Venkat:
are you sure? will the nifty goes even higher in March expiry? I thought some correction required before upward movement. also in bank nifty future.

@venkatcr
Dear friend your concern is valid, a correction is inevitable and it is every time required for the healthy movement of any speculative market. What I am posting here is a pure technical view based on the visual analysis based on chart and indicators with different values, like pivots, retracement etc. This is not for any marketing idea. So unlike other market men, I am posting this in advance without waiting for the clues in the morning for the viewers reference. The market is waiting for many news and event. Like I posted in NIFTY daily call, it is GDP, car sales etc etc. I am not bothered….
Now it is up to you to study the thing with a new perspective, and take whatever fine and reject whatever unwanted in it.
Now everyone here can understand how unpredictable is the market is. I need you all as my good friends, and correct me when I am going wrong. Together we can Build confidence and trade better.
Comment:
Here the internal (grey)structure of wave 3(pink) of 5 (violet) of 3 (blue) doesn't looks completed. Labeled in grey ,these are having internal waves as the grey 5th doesn't comply the wave 3 ratio, since it may be still going on. not sure.

so, if this structure is completed, then we may see correction up to 38% as marked.
19700 may be. But there is no tiredness in signals or in moving averages. just look at them.
Comment: Bank nifty just meet the support 20670 and showing supported, hope it will support here, then it is a positive sign, let us see how it conclude in the closing. if 20462 level is protected, can expect bull move.