BankNifty - Possible Ending Diagonal Scenario with Twist

Ending Diagonal with a twist.


As identified support zone 39550-39600. Index post falling from 40073 highs slipped to 39759 first / did some sideways & fall continued below 39759 to very important support zone & day low in the zone as 39564

Holding in support zone we expect Index to push once again 40K + target zone where you have to be careful.

---------------Not a trading call -------Consult your financial advisor before trading----------------

Comment:

2:22 pm / 6th Sep 2022

Last @ 39796

Very Important level 39759 which was identified since 2nd Sep 2022 can be used as key level for making trading decisions.

Comment:

3:05 pm / 6th Sep 2022

Last @ 39659

Our 2nd most important support zone 39550-39600 is intact. Till the time it acts as support. Bulls will remain strong

Trade closed manually:

7:34 am / 7th Sep 2022

------------ Not a trading call -------Consult your financial advisor before trading

Global StockMarket are weak. SGX Nifty is 1.1% down -200 Points in red Hongkong is 1.4% down- 270 Points in red. U.S. Markets were also in red.

Most probably case of Truncated Tops which are rarest in Waveanalysis 39988 is slightly lower than 40073 - Euphoric high

The most important support zone 39550-39600 is taken out with gap down opening.

Such patterns are wiped out completely. Index can reach 37950 double bottom lows swiftly in less time.

------------ Not a trading call -------Consult your financial advisor before trading