Nifty Bank IndexLong
BankNifty-The Magical Playground of WaveTalks: 109 Session
Updated
Hey little explorers! Gather around because it's time to continue our fun adventure story with WaveTalks. You remember our big playground where numbers play like kids, right? Let's see what exciting things are happening there now!
Chapter 1: The Big Bounce
Do you remember the magical bounce we saw on July 30th? The numbers played on the swings, going up and down. They climbed so high, almost reaching the sky, but then they swooshed down really fast, just like going down a giant slide! - bounce of 200 points & reaching the 1st target at 45790’s - actual high was 45782 - Wow!!! - What a fall, Resistance of 109 session moving average. Later Fall of 2000+ points close to our target of 43345 - Actual low was approx 43600
Chapter 2: Trampoline Fun
In August, our numbers found a magical trampoline where they bounced happily, going "boing, boing, boing" between two special numbers: 43940 and 44000. It was so much fun watching them bounce up and down! ( Taking support of 109 session moving average - What A mysterious X-wave bounce for 500+ points)
Chapter 3: X-Wave's Secret
As we moved to the end of August, we met a friendly wave called X-Wave. It whispered a secret to us: "If the numbers stay above a special spot, they can jump up even higher!" And guess what? On the first day of September, the numbers did just that, they jumped up like they were on a bouncy castle, making everyone cheer with joy! ( finally bouncing above 43900-44000- same old zone support of mysterious X-wave & 500+ points bounce repeated again)
Chapter 4: The Magic of 109 session Moving Average
Now, here's where the magic happens, friends! There's a magical number - 109. It's like a magic wand that helps us understand where the numbers might go next. Right now, the numbers are playing in a special area between 44300 and 44450, and guess what, it's been 109 session, since they started playing here! ( could act as support zone once again like how it provided support to Mysterious X-wave )
Intraday Moves
If they continue to play nicely in this area, they might climb up a tall ladder to a new fun spot at 44650. And if they are really happy there, they might even climb a little higher to 44750, where they can see the whole playground from above!
What Happens Next?
Well, little adventurers, now we wait and watch. If the numbers play happily at 44750, they might go even higher, just like flying with balloons. But remember, sometimes they might also come down to try a new slide or swing. That's the fun part, we never really know, but we can always guess and have fun watching them play.
Best Wishes from WaveTalks
So, are you riding these waves with us? At WaveTalks, we say, "Can you hear it?"
Disclaimer:
Trading in Financial markets is risky, and one could lose part or all of their invested capital. Always trade based on the advice of your financial consultant.
Chapter 1: The Big Bounce
Do you remember the magical bounce we saw on July 30th? The numbers played on the swings, going up and down. They climbed so high, almost reaching the sky, but then they swooshed down really fast, just like going down a giant slide! - bounce of 200 points & reaching the 1st target at 45790’s - actual high was 45782 - Wow!!! - What a fall, Resistance of 109 session moving average. Later Fall of 2000+ points close to our target of 43345 - Actual low was approx 43600
Chapter 2: Trampoline Fun
In August, our numbers found a magical trampoline where they bounced happily, going "boing, boing, boing" between two special numbers: 43940 and 44000. It was so much fun watching them bounce up and down! ( Taking support of 109 session moving average - What A mysterious X-wave bounce for 500+ points)
Chapter 3: X-Wave's Secret
As we moved to the end of August, we met a friendly wave called X-Wave. It whispered a secret to us: "If the numbers stay above a special spot, they can jump up even higher!" And guess what? On the first day of September, the numbers did just that, they jumped up like they were on a bouncy castle, making everyone cheer with joy! ( finally bouncing above 43900-44000- same old zone support of mysterious X-wave & 500+ points bounce repeated again)
Chapter 4: The Magic of 109 session Moving Average
Now, here's where the magic happens, friends! There's a magical number - 109. It's like a magic wand that helps us understand where the numbers might go next. Right now, the numbers are playing in a special area between 44300 and 44450, and guess what, it's been 109 session, since they started playing here! ( could act as support zone once again like how it provided support to Mysterious X-wave )
Intraday Moves
If they continue to play nicely in this area, they might climb up a tall ladder to a new fun spot at 44650. And if they are really happy there, they might even climb a little higher to 44750, where they can see the whole playground from above!
What Happens Next?
Well, little adventurers, now we wait and watch. If the numbers play happily at 44750, they might go even higher, just like flying with balloons. But remember, sometimes they might also come down to try a new slide or swing. That's the fun part, we never really know, but we can always guess and have fun watching them play.
Best Wishes from WaveTalks
So, are you riding these waves with us? At WaveTalks, we say, "Can you hear it?"
Disclaimer:
Trading in Financial markets is risky, and one could lose part or all of their invested capital. Always trade based on the advice of your financial consultant.
Note
1:16 pm / 4th Sep 2023Last @ 44521
Keep trailing your stops to the upper level of the suggested zone 44300-44450
which is 44450 if entered in long positions & manage your risk
It is 100 points up & index is doing consolidation while moving upside which can be a rising wedge on a short term degree waves
While you are long , you should be cautious as well as we already finished 500-600 points from our psychological level of 44000
Note
1:45 pm / 4th Sep 2023 Traders! Hope you are aware what does "Rising Wedge" means
Note
1:55 pm / 4th Sep 2023 Last @ 44529
Extreme lower degree that's a rising wedge possibility but until our key zone 44300-44450 is taken out to the downside, the bias remains upside
Note
6:14 am / 5th Sep 2023 U.S Markets was closed on labour day yesterday but all markets have their own trajectory & as suggested last in few comments during trading session of 4th Sep2023 that Index if holds above 44450-key support, we can expect 44650 & 44750 targets mentioned over the latest idea on TradingView
Scenario 2- If Index breaches 44450 & later 44300 then the current rally which started slightly below from 43900 & 44000 zone have to be reviewed again & Traders should book profit in long positions as breaching 44450 will be early sign of Index suggesting downside move next. Have a great day ahead.
Trade closed: target reached
9:51 am / 5th Sep 2023 Target 1 - 44650 Done
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.