NeeteshJain

BANKNIFTY LOOKING POSITIVE (ABCD PATTERN COMPLETION)

Long
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