Looking forward to short after parabolic support is broken (27170)
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It seems that BANKNIFTY after the breaking the parabolic support has now started forming an ascending triangle. We can look forward to go short on the failure of ascending triangle pattern. Or long after the ascending triangle breakout.
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In support of this setup:
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After the Parabolic support broke Banknifty made a sideways movement and then fell by 1000+ points!
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A classic charting pattern which worked perfectly well! An memorable example of parabola after Bitcoin
@AkshatPatwa, Yea! Bitcoin and Ether also traded parabolic path on day chart! and we saw the magnitude of the fall once it broke!
Luckily we are seeing it on 15 min chart in BankNifty. We can expect 26750-26400 once broken. I dont want to miss the smooth and free fall :D
k314
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@AkshatPatwa , Just like Bitcoin parabola banknifty parabola broke and fell by huge margin! more than 1000+ points :D
k314
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@AkshatPatwa bhai, Smooth and free fall is what we saw as per our analysis on Jan 23 :D
k314
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@AkshatPatwa, Here we saw a memorable example of parabola after Bitcoin
Parasuram
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give the levels and the stop for us to watch
k314
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@Parasuram, I would leave that to traders based on their setup :)