INTRADAY BANK NIFTY UPSIDE
📈 Bank Nifty Higher High Sequence - 1-Hour Time Frame
Bank Nifty is currently forming a higher high sequence on the 1-hour chart. According to Elliott Wave guidelines, the sequence remains incomplete as the index has yet to reach the 100% Fibonacci extension level between Wave (1) blue and Wave (2) blue.
This setup presents an intraday opportunity with a potential 500-point upmove. However, the risk is 284 points, which is aligned with the last swing low on the 1-hour chart.
While the opportunity may not be the most attractive, it still offers a 1.76:1 risk-reward ratio—a calculated risk for those looking to take advantage of this potential move.
📊 Trade with caution and manage your risk!
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult with a financial advisor before making any trading decisions.
Bank Nifty is currently forming a higher high sequence on the 1-hour chart. According to Elliott Wave guidelines, the sequence remains incomplete as the index has yet to reach the 100% Fibonacci extension level between Wave (1) blue and Wave (2) blue.
This setup presents an intraday opportunity with a potential 500-point upmove. However, the risk is 284 points, which is aligned with the last swing low on the 1-hour chart.
While the opportunity may not be the most attractive, it still offers a 1.76:1 risk-reward ratio—a calculated risk for those looking to take advantage of this potential move.
📊 Trade with caution and manage your risk!
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult with a financial advisor before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.