I kept on posting on social media, not to trade today as the #banknifty spend the whole day in the yellow zone.
I keep my view for Monday as intact that of today.
formation target 1 is already done at 0.78 to .62 i.e. 22,672-22,320
Target 2, I won't share right now, let's us get some pullback and then I will post the target 2.
Correction Waves Details:-
Wave A : - 23,112 to 21,615.
Wave B : - 21,615 to 22,363 ( exact 50% of the wave A)
Wave C : - 22,363 to ------ (21,438 (Achieved) / 21,329 / 21,241 / 21,152 can be anyone)
Decision Zone:- Above +ve & Below Negative.
I don't pay much attention to monthly expiry day candles, as there is FNO adjustment. The market is still in the range of 21k to 23k.
Please don't take a strong positional trade, until this consolidation range is broken.
I have posted a separate positional strategy as a separate idea yesterday, which is still valid.
Then they will move downward.
As FIi sells share alot cumulative open interest is in call writing.
Wait for 21200 then bullish crossover will bring positive feedback and bank nifty will move up to 24000.
As hdfc share is in sell list .it seems it will break the market.
Loot lo reatil ko.