RBL bank based on friday news from SEBI - It looks like 463 is -50% fibo and 418 is 61.8%. Recent fall of DHFL and Yesbank. Don't be surprise if fall to 50% from current price.
NOTE:LEARNING CHARTING FOR THE VIEWERS
PLEASE FEEL FREE TO EXPRESS YOUR OPINION
THIS CHART IDEA IS SHARED TO SHOW
MY VIEWERS HOW THE NIFTY
ACCORDING TO ME HAS PANNED OUT ON WEEKY CHARTS
WITH REFERENCE TO FIBO LEVELS AND ELLIOT WAVE WITH FRESH WAVES CONSIDERING THIS WAVE IS VISIBLE .
WAVE 1:-
INDEX MOVES FROM 6825 TO 8968 FOLLOWED BY
WAVE 2:
CORRECTION FROM...
as mentioned "Near Bullish GAP at 11499.65 - 11486.45".
Covered in Mid of the Week.
After tht Witnessing ""V" Shape recovery in Hourly Chart"
Fut & Spot levels mentioned & plotted on chart.
Pattern Break Level at 11914.25 In Weekly Time Frame.
as per calculation PCL' also 11913.70.
In DN move 1st Hurdle near 11601.
Near Bullish GAP at 11499.65 - 11486.45 (Treat as Strong Support).
Fut & Spot levels mentioned 7 plotted on chart.
Notice Premium in NF (+ 56.55 point) Near all time High.
Smart Investor / ........... may take arbitrage opportunity.
BankNIFTY' Future & Spot levels plotted & mentioned on chart.
In UP move 28360 - 28370 Zone (Spot) looks crucial.
In DN Move important levels are 27867, 27606 (Can treat as Strong support)
In hourly chart, consolidation Ends with "DOJI"
In 4 hourly chart Last Candle "DOJI", before that long body Red Candle => Blue Body candle.
27945 looks Crucial.
.....rest levels mentioned on chart.
In Last trading day mentioned "28309 looks Crucial"
made High Near that level. Watch snapshot.
CRUCIAL Tnd line for coming week 11590 - 11605 (treat as RESISTANCE).
before that 11581 strong hurdle.
Previously CLOSED below All the time (Except One Instance).
Choppy Trading Band: 11581 - 11543 (Spot)
Immidiate bullish Gap at 11500 - 11486, act as Support.
Closing Below Weakness comes.
.... rest detailed plotted on chart.
Mentioned Weekly Fut Levels upto...
