Nifty Bank IndexLong
Prebudget rally.
Updated
it looks unless there is complex correction
Bank nifty is poised for a bounce.
ABC correction appears to be over.
In case of a bounce it should first try to fill up
the Gap created by C wave that is 47212.8-48002.
Divergence seen between price and oscillator stochiastic here. stochiastic is in oversold condition here.And divergence between price and oscillator is there.
Important level to watch 45967.
As long as bank nifty holds this level it is positive for bank nifty.
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Bank nifty is poised for a bounce.
ABC correction appears to be over.
In case of a bounce it should first try to fill up
the Gap created by C wave that is 47212.8-48002.
Divergence seen between price and oscillator stochiastic here. stochiastic is in oversold condition here.And divergence between price and oscillator is there.
Important level to watch 45967.
As long as bank nifty holds this level it is positive for bank nifty.
Do like this post if it helps you.
follow me to get updates.
Note
Note
Bank nifty is expected to take support here.If not correction is not yet over.Note
Note
correction is not yet over.Note
Note
after huge WRB,wide range bar here red bar traders normally don't sell.So it is wise not to sell immediately.chances of being trapped is there.so better to watch and seein the begining.and take decision as market unfolds. Bank nifty is in quite over sold condition in daily time frame too.This C wave may take the shape of diogonal too.
so it is expected every body to trade carefully.
Note
Note
time being it is appearing 5 th wave in C wave is completed.
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