NeeteshJain
Long

BANKNIFTY LOOKING POSITIVE (ABCD PATTERN COMPLETION)

NSE:BANKNIFTY   NIFTY BANK
It is been observed on the daily chart that the price action reaches to the strong support levels and completed a ABCD bullish pattern . It is indicative of an upward move ahead. It shall reach to 38.2% retracement of A to D leg.

Target (1): 18600

Target (2): 19000

Stoploss: 18100
Trade active
Trade active: Reaching to Target 1
Comment: Yesterday, Target 1 of 18600 reached before we had a down fall. Now, we need a close above 18600 levels to go further above to 19000 levels. Regards
Comment: We did close above 18600 levels, now it shall further move up to 18800-19000 levels. Regards

Comments

Great readings! Thanks for sharing study.
+1 Reply
NeeteshJain rajesh2467
@rajesh2467, Thanks, Regards
Reply
sir ichimoku chikou span is showing h&s on daily chart .kindly check
+1 Reply
@sandy, Share the image here. Regards
Reply
sandy sandy
@sandy, check i have posted
Reply
stoploss hit
+1 Reply
hi sir kindly check below 4 hr time frame. Is bank nifty forming any bearish head and shoulder pattern. bank nifty this month highest OI is at 17000 strike PUT with 10,94,480 its very strange QUANTITY.
+1 Reply
@sandy, Alright, thanks for sharing. Regards
Reply
I suppose this rally tmrw with a rate cut..
thanks
+1 Reply
NeeteshJain yuvrajsingh7722
@yuvrajsingh7722, It seems true as per technical analysis. Tomorrow, we will have interesting session. Regards
Reply
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