subhagghosh

Bank Nifty Trading Strategy for 17th Nov'2020

NSE:BANKNIFTY   NIFTY BANK
Banknifty Muhurat Trading 2020 strategy

Decision Line:- 28,520

Upper targets:- 28,660/ 28,880 / 29,000 / 29,180 / 29,340 / 29,850

Lower Targets:- 28,380 / 28,180 / 28,030 / 27,830

Trend Reversal levels:- 28,520.

Elliott Wave:- Wave 4 (29,030.3 to 27,703) seems to be completed at 27,703 ( 34% of Wave 3)

Wave 5 likely in progress:-

Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 or equal to wave 1

0.618 820 28,523
1 1327 29,030
1.23 1640 29,343
1.618 2147 29,850
Wave 1 (23613 -25773) is 2,160


Target of Wave 5:- 28,503 / 29,030 / 29,343 / 29,850

Resiatance Zone:- 29,134 - 29,385

SL for all positional long is 27,550

Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.