bijoy2526

BANK NIFTY have you started liking it?

Long
NSE:BANKNIFTY   NIFTY BANK
yes it must be as it is preforming.
But it starts preforming when people starts hating it.
and it ditches when people starts liking it.
please go through my post bank nifty again it is inside bar ...
it took it around 3 days and there was huge break out .
Understanding its nerves is not so easy.
then what next?
It has been restricted by the channel now.
as per me as it is third wave it can not be shortest right now can not be shorter than wave 1.
but is this suggest tomorrow it can be a great up move again not sure of that,
as contraction is followed by expansion so also reverse is also true.
hence trading with cautious is my approach
as option value will be start eroding rapidly tomorrow.
the uptrend had not ended here it may consolidate or may give another break out if fii and dii supports it.
don't forget to like this post. follow me to get updates.
I am bullish on it but for tomorrow little bit cautious.

Comments

can we still be on bullish side sir?
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This time, you have not put any targets on the upper side
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bijoy2526 consultanilkumarg
@consultanilkumarg, it is consolidating. After rise of 1200 points again to suggest next target at this stage is not wise. Had suggested the channel line and next target few days ago right.
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@bijoy2526, i can see a pennant B.O in daily chart which suggests 37500 as next hurdle. Do u see another 1500 points in a month time ?
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bijoy2526 consultanilkumarg
@consultanilkumarg, my view is bullish .Today's is inside bar. Once it takes out the resistance line higher levels are possible. Tomorrow rbi monetary policy may decide its direction.
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Sor very nice am following from monday..WHAT is the levels
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bijoy2526 MURUGESH2784
@MURUGESH2784, will suggest.
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