WaveTalks

Bank Nifty - Expanded Ending Diagonal (Trade Only Above 45800)

Long
WaveTalks Updated   
NSE:BANKNIFTY   Nifty Bank Index
A "Falling Expanded Ending Diagonal" is the most probable pattern which has unfolded so far suggesting there could be exhaustion in selling at current price levels.

Where I could go wrong
If Index fails to hold 45750-45800 zone then this pattern is no more valid & I will avoid buying.

Holding above the 45750-45800 zone, Index can attempt to touch
46155
46263
46369

Thanks
Trade closed manually:
After small bounce to 45942 highs - Index failed to hold the zone 45750-45800. As suggested, To avoid buying if falls below 45800
Comment:
Updated Somewhere

Expanding Ending Diagonal is Still Valid for Risk Takers if Holds above 45650 - Risk Takers Only


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

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