#banknifty view for next few days:- A brain teaser.

#banknifty view for next few days:-

If we look into the upmove from 42,105 to 48,614, this is a five-wave move over.

Then we are into the correction move, which is very obvious.

Now let me explain two setups that are visible:-

1) Scenario 1:- We assume correction is over in the form of simple zig-zag abc (3,3,5) wave a 48614 to 47010, wave b 47010 to 48305, wave c 48,305 to 44,429

Then till the time low of 44,429 holds, we might see a fresh rally toward ATH, with technical confirmation only above 46,892

2) Scenario 2:- We assume correction is still not over and Wave A is 48,614 to 44,429 and Wave B is 44429 to 46,892, then Wave C project is coming from 43,585 to 42,684 & much below..

This setup is valid till 46,892 is not taken away and confirmation of this setup is below 44,429

Now the big question is how to trade this setup:-

1. Wait for trigger points to take view with reverse swing points as stop loss (clearly mentioned in the cart)


Let's trade what we see not what we feel.

Regards,
SG