Niftydirection

Banknifty Wave 3 towards 37200

Long
NSE:BANKNIFTY   NIFTY BANK
Refer Previous banknifty analysis below.

Banknifty today started wave 3 which clearly visible with bullish candlea getting formed tomorrow gap up most likely to happen.

Internal iii of 3 looks to retraced 0.382 fibonacci which is irregular correction on 5 min chart.

Internal Wave iii of 3 reached 1.618 fibonacci level which was day high. So now wave v of 3 likely to go 100% or more of i+iii

Wave 3 most of the time 45% goes 1.618 fibonacci extension level which is at 37200.

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Trade closed: target reached