InsiderB

BankNifty - Beauty of Market Dynamics !

Short
NSE:BANKNIFTY   NIFTY BANK
We need to rush through this description bcos there are potential chances arising already. There are 3 components we have used to examine the dynamics of BankNifty , (i) Elliot waves - Simpler the Better (ii) Trendline (iii) Patterns
There is no need for you guys to know each n every component for analysis. Just any one of above 3 component is perfectly fine to do analysis on above chart. Asking how ?! Here it is...

Elliot waves - what does it imply ? A simple 5 wave count shown in above chart, wave (v) is moving down so on the trendline (violet) breakout we can initiate shorts with proper stops.

Trendlines - Now Elliott is not needed here,Just Break of trendline is enough - You got trade opportunity but can use Elliott or other techniques for confirmation ( adding confidence ) but only thing it shudn't turn out as false breakout

Patterns - What do they say ?! They plot out most of market dynamics even what to expect next. So we have potential ABCD pattern & Gartley pattern . So if wave (v) completes at 19000 then we can have bullish chances in BankNifty .

Discussing whether patterns upside move from 19k's is bcos of elliott corrective abc's or bcos of pattern completion is No use. Its like discussing whether Hen or Egg came first ! Discussions on those won't help our trading, only trading chances help our trading, so use which ever you like - Elliott , Trendlines ,Patterns ! Simpler the Better...

So as promised, BankNifty post is delivered usually people tend to be more interactive with Nifty so thats why I posted for Nifty only. Bcos the lack of interaction, discussion of ideas makes an idea dry, Pour in your thoughts to make it feel fresh & interactive which will keep me encouraged to post on BankNifty .
Comment: So Guys, H
Comment: I Just don't understand what happened, I pressed space bar & comment updated * FacePalm*

Are you Guys Happy ? Book profits & Trail the stops from Now !
Comment: 0.85 Points for 19k *Face-Palm* :D

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