Kinnari_Prajapati
Short

From a longer perspective, there is a still problem in BANKNIFTY

NSE:BANKNIFTY   NIFTY BANK
  • Long term tight channel since 2016.
  • 3 excesses at the value and one excess at value low.
  • 5 waves are completed.
  • A previous Resistance and Wave(3) at 28227(can be upcoming support).
  • 50 days moving average is at 28080 nearby (too far for work as support).
  • Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug 2019(approx. plotted).

Conclusion: From a longer perspective, there is a still problem in BANKNIFTY .

Comments

Awesome Work...Keep Sharing ...
May you please tell us where can we learn time cycle?
+4 Reply
On Aug 13 are you expecting to touch the support level @28227.` How are are you able to predict that? which tool/method are you using for this kind or prediction
+3 Reply
I have read a lot of books on technical analysis, but no one has ever provided this type of easy to understand method. you should write a book @Kinnari_Prajapati
+2 Reply
@akashbothra, Really, If someone helps me I am really interested to write a strategy and book.
Reply
Excellent.
I too sense , some thing is wrong . Scrip like FED BANK looks very weak. Even scrip like LT looks very weak till stays below 1420.
Even NIFTY looks weak unless move above 11300 and sustain tomorrow. ????. Make OR Break Day tomorrow ?
+2 Reply
Kinnari_Prajapati prabakaran62
@prabakaran62, Upcoming News: Friday 26th July 2019
5:00 PM : Forex Reserves for 19th july
Wed 31st Jul 2019
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Wed 31st Jul 2019
11:30 PM : USA Fed Interest Rate Decision
Thu 01st Aug 2019
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Let see tomorrow opening.
+1 Reply
Awesome Analysis. Thanks for sharing the knowledge.
+1 Reply
@RSM1967, thanks
+1 Reply
This is an awesome observation. Another way of looking for trading the BN!!!
+1 Reply
@varunsja, cheers.
Reply
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