InsiderB

Bank Nifty : What;s Brewing & What's Next with Waves !

NSE:BANKNIFTY   NIFTY BANK
BankNifty ... After some 10 days we are back to Nifty's favorite brother BankNifty . Many of you might remember how we rode Nifty with Waves, Now same for BankNifty ? Let's see... We already caught the Wave-3 and made money{check prev.post if you have missed that post}, Now lets concentrate on Wave-4. BankNifty getting caught within 100 points range is rare occurence, now its in 19700's region which has prev. ranging zone.

If we go down on timeframe {15mins}, we can see some ranging patterns, I cud have drawn that but I wanted to present overall view on BankNifty , so used Hourly. On the breakout 19700's{Short} & 19900's{Long}, if there is Long breakout on Banknifty it will be treated as Wave-5. Else we can grab few points in remaining wave-4, so after BankNifty reaches next zone 19400's we can decide what to do further.

If you have doubts on Elliots, check TechM sunday special post on drawing Elliott's.
Happy Trading !
Comment: My Views for Nifty or BankNifty hasn't changed and its not good if I post this chart again, it will be repetitive act which I don''t like. So, will do some stock today !
Comment: Still BankNifty remains in the zone !
Comment: For Intraday BankNifty Traders, check your rules before Trading !

Comment: Will be easier for you to compare, every step of trade...

Comments

sir,your last comments meaning in bnf is not changed from earlier post ? for wave
+2 Reply
InsiderB soibam666
@soibam666, Still same view as mentioned above, Markets are directionless !
Reply
Is there any update on bank nifty please
+1 Reply
InsiderB ramesrin42
I'm still long in BankNifty Futures with stops below support zone, due to sideways Market, nothing happening. By Thursday, we will get clear picture after Fed Meeting gets over. I will post once clear trend emerges.
Reply
ramesrin42 InsiderB
THANKS FOR THE PROMPT RESPONSE
Reply
InsiderB ramesrin42
Caps On means you are shouting, thats why asking you to turn off caps :)
Reply
Thanks a lot for Bank Nifty chart with analysis.
+1 Reply
InsiderB AMBRISH
Anytime... :)
+1 Reply
CAN YOU PLEASE UPDATE THE LATEST TREND ON BANKNIFTY PLEASE
Reply
InsiderB ramesrin42
cool bro.. switch off caps too :)
Reply
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