BankNifty - Is this An Ending Diagonal at Tops 51404

Aug 27

WaveTalks ...Market Whispers! ...Can You Hear Them?

Disclaimer:
This commentary is not a solicitation to buy or sell. Please consult your financial advisor

As discussed this morning......catching the wave 4 bottoms & watching 5 unfolding in back to back ups & downs with a minor halt at 51251 have we unfolded an ending diagonal at the tops of 51404

Wave 4 Bottoms this morning close to 51000 as discussed


Wave 5 - Is this an ending diagonal unfolded at the current high of 51404


Last Idea Published - Tower Bottom Unveiled
We started this wave sequence close to 49651 discussed in the last idea - Tower Bottom Pattern

Regards,
WaveTalks

Aug 27

Trade closed manually

12:30 am / 28th Aug 2024

Got the fall from the highs of 51404 to 51151 .......But the fall is not convincing means it took lot of time while falling so this is giving us our next clue that something is pending upside & new highs cannot be denied above 51404

Index will be range bound between 51150 & 51405 ------Any side it breaks, It moves it that respective direction.

Consult your financial advisor....Good Night

Aug 28

Note

11:12 am / 28th Aug 2024

Last @ 51182

Day Low at the moment - 51085

Avoid taking shorts or selling position unless 50939 / 51085 level is breached on downside next. Thank you