HappyVijay

Bank Nifty Elliot Wave " V " in Progress

NSE:BANKNIFTY   NIFTY BANK
158 3 3
Its Intresting to see where Wave " V " will end ! @ Supply Zone or @ 0.786 Retrecment. Nifty             already Touched @ Weekly Supply Zone but Bank Nifty             not yet touched Supply zone @ 19827.
Comment: As Expected Bank Nifty has gone up and approching near Supply Zone, Monday we can take Short position, Aggressive traders has already taken position.
SGX Nifty is Up 86 Points Near 8700 !! Seems Market will open Gap Up on Friday.
Reply
Hi Vijay,

Thanks for sharing this information. How to find out supply zone for a stock?

Reply
HappyVijay jayanandha
@jayanandha, Supply zone is nothing but " from where Buying Stops and Selling Starts. In above Chart its
clearly Visible (area marked in Red) where buying got resitance. Its first time market is approaching
same area from where Selling started Last time. Hope i am able to clear ur Doubts.
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