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tradingwick
Oct 26, 2022 8:58 AM

Near term bearish view Short

NSE:BANKNIFTY1D
Nifty Bank IndexNSE

Description

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Idea marked on chart, a small gain till 42359.20 possible just below our invalidation level, after that a strong sell off may come. Coming week price movement will clear long term move also.

Comment

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May take profit1 @41010 & profit2 @40700. Today top is B of ongoing ABC
Wave AnalysisSupply and Demand
Comments
Parasuram
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// coming week price movement will clear long tern move also// if it A B C then next trend will be up nah?
tradingwick
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@Parasuram Sir, Up move from C level if not part of WXY move.
Parasuram
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@tradingwick, ok
Parasuram
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@tradingwick, where would you short.. ?
tradingwick
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@Parasuram Sir, Short will activate (1) At 42359.20 with SL as invalidation or (2) Trading below 40150.10
Parasuram
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@tradingwick, where would be shorting points? then Nifty also can go down to 16240 levels?
tradingwick
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@Parasuram Sir, hopefully NIfty & BNF will be in sync after monthly expiry
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