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NeeteshJain

BANKNIFTY LOOKING POSITIVE (ABCD PATTERN COMPLETION)

Long
Nifty Bank Index (NSE:BANKNIFTY)  
NeeteshJain Updated   
NSE:BANKNIFTY   Nifty Bank Index
BANKNIFTY banking AB=CD
15
11
banknifty banking abcdpattern
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

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