Niftydirection

Banknifty consolidation in Triangle breakout awaited

Long
NSE:BANKNIFTY   NIFTY BANK
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I may or may not trade this analysis
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Banknifty consolidation since many days and looks fitting triangle pattern or flag with pennant .

Stop loss 34893

Wait for confirmation close above 36464 for given targets

If wave 3 extends beyond 1.618 levels then 50k is no big deal.
Order cancelled: Posting correct chart

Comments

Isn't triangles generally seen in 4th leg?
+1 Reply
Niftydirection VishalSancheti
@VishalSancheti, thanks for correction the count of wave needs to corrected Triangles are not seen in wave 2. I will repost again
+1 Reply
Sir when you repost , pl give count from wave 1 also to understand the full wave cycle .it is a very good efforts to predict the bank nifty based on Fibonacci .
You may also do the same for nifty predictions.
It is very useful for those who fallow you & do trade on Elloitt .
Reply
@JagdishKumarPahuja sir posted from mobile so all analysis can't fit . Will try next time from web for better clarity.
Reply
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