Nifty pvt bank index have life time high around 21720, if index fails to sustain above 21720 levels and give daily close above that levels, than consideration of double top pattern around 21700 levels, from where reversal till levels of 20000 can be seen on initial basis,
2 consecutive close below 20000 levels might lead to further correction in pvt bank index,
as per wolf wave formation , index if manage to close above 21720 level, than index might face resistance around 22250-22500 levels as per ascending wedge pattern formation,
resistance live of wedge around 22250-22500 levels can be seen,,
reversal confirmation on daily time frame would lead to maturity of wolf wave formation from where sharp fall till levels of 20000-19000 can be seen
this view is conditional ,, will wait for confirmation of either of study to enter in any decision..
pls read the condition with focus and than decide.
2 consecutive close below 20000 levels might lead to further correction in pvt bank index,
as per wolf wave formation , index if manage to close above 21720 level, than index might face resistance around 22250-22500 levels as per ascending wedge pattern formation,
resistance live of wedge around 22250-22500 levels can be seen,,
reversal confirmation on daily time frame would lead to maturity of wolf wave formation from where sharp fall till levels of 20000-19000 can be seen
this view is conditional ,, will wait for confirmation of either of study to enter in any decision..
pls read the condition with focus and than decide.