padiyara

BANKNIFTY support 18640 resistance 19493 target 19260-19590

Long
NSE:BANKNIFTY   NIFTY BANK
109 views
3
Bank nifty18843 Top was 19276, price didn't
reach the expected resistance level
red line. it is very obvious from the chart that we
are in correction, may be a 4th wave and the
target is intact 19260_ 19590 level.
so be confident with a stop loss level at 18640
a 38% retacement of the total swing (not the only 3rd wave run,
for maximum safety) otherwise keep 18722 is fine.
Comment: Break out from the resistance as expected.
Target 19590 is very close now, doesn't show ant weakness.
In Bank nifty the up trend was more clear, but the nifty move was doubtful, and no clarity in waves. Any comment/help from seniors are welcome in this regard.
Or may be it is my inability in analyzing the subject.

Comments

Thanks for clear view.
Reply
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