Banknifty - Leading Diagonal Scenario (Fall 51800 to 51000)

Jun 24

As we discussed in the Sunday Video... This is the alternate scenario of waves unfolding & if Index faces resistance in 51800-51900 zone, it can slip & complete the proposed 5th wave of an unfolding leading diagonal downside.

Strictly ------No Sell ---------Above 51800 ---------------------------------------------------

Downside Target - 51000 Approx.


From WaveTalks
Abhishek

Jun 25

Trade closed manually

9:57 am / 25th June 2024

Last @ 52005

High @ 52058

Opened close to 51800 at 51755 and crossed 51800. According to this idea, crossing 51800 indicated a strict no-sell zone as suggested, negating the sell view.

Jun 25

Note

12:18 pm / 25th June 2024

Last @ 52085

Bank Nifty Index has resistance close to 52200 & holding below. 52100 which is psychological level , index can slip to 51800-51850 - a minor support zone from where our idea was negated - moving above 51800 - no sell call.