InsiderB

BankNifty : Bats n Elliots, can we bank on them ?!

NSE:BANKNIFTY   NIFTY BANK
Banknifty last week hit trailing stops and I exited my positions for breakeven, booked 50% only on 1st Target. So its a ok-ok trade only.No we have potential bat pattern completion & ABCD pattern completion around same zone in BankNifty , so guys when 19250's are reached be vigilant. Another thing Banknifty is not like usual stocks which trades in 100's, we are looking at 5 digit number here, so a simple more of 100points is nothing for BankNifty , Take care of your stops and where it needs to go.
Finally we have Elliots also in BankNifty aligning with Bat & Abcd pattern , wave(4) will be targets for our patterns. Let Banknifty break support zone marked above, then only we can confirm whether the pattern really completes or not. If you want to trade the waves of Elliott , Go down a timeframe look for opportunities to enter. Probably if Nifty bounces backup, Banknifty can do same thing, Lets see what happens !
Comment: Typo : Now, we have potential bat pattern completion & ABCD pattern completion around same zone

Thank you, Ace :)
Comment: Pings are not working, I can't reply anyone... so private message;s not working guys. Only comments the other way around !
Comment: Should I say anything ?

Comments

Good promising chart ,
+1 Reply
Gm. Nice of Bnf.

+1 Reply
InsiderB rajesh2467
Thanks man !
Reply
soibam666 InsiderB
sir means coming towards D/REGARDS
Reply
InsiderB soibam666
are you asking about patterns ?
Reply
thanks sir
+1 Reply
InsiderB soibam666
If BankNifty bounces it needs to cross 19750's to get bullish else will get into ranging !
Reply
how do you enter ? as soon as you see the level, you enter, or you wait for some other confirmation like candle close etc...
Reply
InsiderB walter0202
@walter,soibam If you guys are asking about patterns, I enter with Limit orders @ D, so I will place orders earlier itself, no market orders !
Reply
InsiderB InsiderB
Sometimes I do exits based with Market orders, but for patterns all are limit orders only !
Reply
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