subhagghosh

#BANKNIFTY Short Term Positional View on 20th Nov'2020.

Short
NSE:BANKNIFTY   NIFTY BANK
#banknifty view for the next 2 weeks:-

I can't resist to analysis the bank nifty on the daily time frame and hence mid of week did the analysis.

99% of the BN price movement of the last 6 months is covered within the regression channel of +4 & -2.5 sigma.

As per Elliot's wave, wave 5 can go till 1.618 of wave 1, which gives a target of 29,871 and we made a high of 29,785 can slide 1000 points.

If we have to assume wave 5 is complete and we are heading for an ABC correction, the problem is there is no way to calculate wave A until it's complete and then we can decide the rest of the movement, the same way we can't calculate wave 1 until it is completed.

Wave A might retrace between (1) to (2) of wave 5, which might be correct till 24,020.

The overall analysis will negate if 29,785 is breached on the upside.

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.

Comments

really super prediction, u rockzzzz
+2 Reply
Nice..
+1 Reply
Tatas birlas Bajaj nfbc to come
Reply
Sir BN WILL BREACH 29785 ON MONDAY DUE TO LATEST NORMS OF RBI PUBLISHED ON 20th November
Reply
Masta mitra me kayam baghat asto tujha analysis,
Can u give me u r mail id
Reply
Wave 3 or wave 5 can have extensions. Until 2018 nifty and bank nifty were in tandem. The NPA did them apart, if it breach 29785 then can we consider wave 5 extensions?
Reply
subhagghosh Arvind676
@Arvind676 this analysis is valid, till 29785 is not breached on upside
Reply
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