#banknifty view for the coming week:-
Support Area:- 41,791 - 42,537
Immediate Resistance Area:- 42,856 - 43,025
If we assume wave 3 of the current upmove is over and we are currently in wave 4 on the move, then things are not clear we are in 12345 or ABC movement within wave 4.
The structure will only weaken below 41,791 and bears will be active below that level.
Better to avoid long until 42,025 holds or around 42K area based on reversal signals.
The view is based on the current market scenario, and if the structure changes, it will update accordingly.
Regards,
SG
Support Area:- 41,791 - 42,537
Immediate Resistance Area:- 42,856 - 43,025
If we assume wave 3 of the current upmove is over and we are currently in wave 4 on the move, then things are not clear we are in 12345 or ABC movement within wave 4.
The structure will only weaken below 41,791 and bears will be active below that level.
Better to avoid long until 42,025 holds or around 42K area based on reversal signals.
The view is based on the current market scenario, and if the structure changes, it will update accordingly.
Regards,
SG
Comment:
levels corrected :- Better to avoid long until 43,025 holds or around 42K area based on reversal signals.