Outlook looks bullish
to me from here.. As per my Wave Analysis.. BankNifty
has Complete Wave A and Wave B of Longer Correction.. Where Wave A was an Impulse Wave.. Wave B was a Running Flat Correction
and Now Wave C is in progress which should be Impulsive as per my analysis.. which means we can get Targets of 22000 or higher for BankNifty
very quickly from here on..
However, If BankNifty
goes below the low of Wave (B) as per my chart then this complete pattern would go wrong..
I would trade by going long on BankNifty
and Keep Stoploss just below Wave B and look for Targets of 22000 and Higher..
Note: Its just my analysis and how I look at charts and markets as of now..