AbhishekHSinghCMT

Bank Nifty - Emotional Trap Above 26K+ (Butterfly Can Trouble)

NSE:BANKNIFTY   NIFTY BANK
(Note- Please read the levels carefully- Last Nifty Idea was suggested not valid above 11930 levels- You need to manage your own risk)

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Idea in Nifty (History May Repeat Again) - suggested that -Expected X-Wave can be 3-Wave Sequence (if crosses 12025 highs)
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Bank Nifty
Butterfly above 26K+ can trouble
• Is this the Emotional Trap?
• Post Leading Diagonal which finished at 25232 Highs- Index looks to be running into irregular
correction which at times can deceive traders by its look & appearance- make you believe that it
was an impulse move
Butterfly can stretch 127 to 162% anywhere in between & has reached minimum criteria of 127% -
which is the lower levels for butterfly harmonic pattern
• Manage your risk & trade accordingly.



Thanks for reading & have an exciting week ahead.


Regards,
Abhishek

Trade closed manually: 07:27 Hrs / 10th Nov2020

Last Price- 27535

Careful at the Tops.

Wish You All - Happy & Prosperous Diwali
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Yes it's all foggy rally. It's emotional trap for bulls🐂.
Thank you sir.
+3 Reply
5th wave of leading diagonal is now unfolding on weekly charts in bank nifty . possible ????
+1 Reply
@sharadco Possible condition- it should not fall below 24800 levels in next few days
+1 Reply
will us election result impact the market?can we see opening gap up tomorrow?
Reply
@SSPKOS90, Yes that is possible
Reply
Abhishek0011 AbhishekHSinghCMT
@AbhishekHSinghCMT, how it can be positive news? Trump getting out
Reply
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