Banknifty Ending Diagonal Final up-move towards 30700
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I may or may not trade this analysis
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Banknifty upside getting exahusted and trading in parallel channel making ending diagonal.
On Friday before close made bullish candles and closed above major resistance 30000 suggesting upside still pending.
Banknifty in impulse up-move and in wave(3) which usually goes Fibonacci level 1.618=30760 of wave 1.
Then after that we can expect deep correction which should go
0.5 Fibonacci level 27186 or 0.618 level 26342 in wave 4
In Wave 5 expect to go near life time high.
I may or may not trade this analysis
--------------------------(((((LIKE)))))-------------------------------
Banknifty upside getting exahusted and trading in parallel channel making ending diagonal.
On Friday before close made bullish candles and closed above major resistance 30000 suggesting upside still pending.
Banknifty in impulse up-move and in wave(3) which usually goes Fibonacci level 1.618=30760 of wave 1.
Then after that we can expect deep correction which should go
0.5 Fibonacci level 27186 or 0.618 level 26342 in wave 4
In Wave 5 expect to go near life time high.
Trade closed: target reached:
30760 hit
