WaveTalks

BankNifty - Rising Wedge Drama Unfolding (Careful at Tops 46310)

Short
WaveTalks Updated   
NSE:BANKNIFTY   NIFTY Bank Index
Hello WaveTalkers

As we approach the close of this trading week, we're spotting some intriguing patterns in the BankNifty Index.

Wedge Drama Unfolding?
- Without giving away too much, there seems to be a rising wedge forming at the current highs.
- This might hint at a potential move towards a 45299 downside target.

Trading Strategy

Once Index falls below 46000 - It will confirm the downside bias but careful as it is weekend & consult your financial advisor before taking any trades


Next Steps

- As always, we're here listening to the whispers of the waves, guiding you to make informed decisions.
- Before making any trades, do consult your financial advisor to manage your risks appropriately.

Thank you for being a part of WaveTalks. Have a great weekend and happy trading!


Best Wishes
WaveTalks
Comment:
9:35 am / 18th Sep 2023

Last @ 46116

Expected Selling Happens Only ------Below 46000 as mentioned in the idea
Comment:
10:44 am / 18th Sep 2023

Hey WaveTalks Family,

Last @ 46160

As updated last above at 9:35 am ( Price- 46116)

We’re back with another quick update on today’s happenings,

- Today’s Snapshot
- The Index kicked off about 100 points lower, yet it couldn’t break past the 46000 lows - a vital point for confirming the wedge.
- It seems the bulls still have some tasks to wrap up.

- Key Levels to Watch
- The spotlight is now on 46000 and 46065 - these are the crucial levels we need to watch.
- If these levels are breached on the downside, we might see a swift downward movement, targeting the 45299 mark.

- A Peek into What’s Next
- Before any dip, there's a chance the Index might shoot up again, possibly exceeding the 46300 highs.
- As always, keep an eye out and be prepared for swift turns.

Stick with us for more wave whispers. And, don't forget to consult your financial advisor before making any big moves.

Catch you soon with more insights! Stay sharp and have a wonderful day!
Trade closed: target reached:
2:12 pm / 20th Sep 2023

Last @ 45359

Hello WaveTalks Family,

Wow!!! What a remarkable journey it's been since our last idea shared on 15th September 2023. The BankNifty Index took a massive plunge, dropping a whopping 1000 points from the recent peak of 46310, fulfilling our expectation by touching the 45299 mark! 🌟

At WaveTalks, we are tuned into the whispers of the wave, always aiming to keep you one step ahead in the game.

Stay tuned for more resonant insights!

Best wishes from
WaveTalks - Can You Hear It!!!

Happy Trading!



Best Regards,
Abhishek H. Singh
​Growth Director - TradingView India

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