DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
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.
@VishalSancheti, thanks for correction the count of wave needs to corrected Triangles are not seen in wave 2. I will repost again
JagdishKumarPahuja
⋅
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 .
Niftydirection
⋅
@JagdishKumarPahuja sir posted from mobile so all analysis can't fit . Will try next time from web for better clarity.