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WaveTalks - Market Whispers: Can You Hear Them?
Pattern Insight: Bullish Bat Harmonic Pattern
Measurements:
- X at 47411
- A at...
banknifty trapped all the buyers except the ones from tuesday. Those who bought at 43900 level is pending. Once it eliminate the buyers at 43900 then it can trap the sellers as SL is available upto 44450 level.
OR
it can first trap the sellers upto 44450 level and then trap the all buyers upto 43888 level
Bank Nifty has completed the wave 3 and expecting it to be bullish on monday as the wave 4 began.... expecting a reversal around 33500 region...
exact reversal point will be identified as the wave continues...
this analysis is just for educational purposes
our team is not responsible for any profits and losses
In 30min chart of bank nifty wave (i), (ii) and (iii) is completed at 31630, 31232 and 37708 respectively and wave (iv) is either completed at 35584 or complete in 35584-35234 range. wave (v) is still pending above 37708.
36180-35234 support range and BN is negative only below 35234.
Bank nifty retraced in 23%-38% range with corrective pattern.
It seems wave iv is completed at 30893 and projection of wave v is coming at 31861-32459.
Negative only if trades below 30721.
