As long as Banknifty is trading in between the purple range, I am not expecting any big movement as such and hence will go for scalping trades if any.
Let's wait patiently for the market to breakout/breakdown of the range.
Nifty has already made an all time high, which is a good indication that Banknifty might also touch all time high before a big correction...
📈 NSE:BANKNIFTY 📉
📊 Each levels Act as support and resistance📈📉. one can trade on 3min, 5min and 15 min as per their trade set up. for reference one can check our old published ideas.
******whatever charts or levels sharing here are just for educational purpose only not a...
If we are right at identifying pattern then Banknifty should retrace from wave (4) in 30907-30628 range without breaking above 31454.
And 30907-30628 is also support range.
NIfty And Bank Nifty Elliott wave analysis in hindi. If you are not comfortable with hindi then kindly read important points mentioned in charts.
Thanks for watching
In this 2hour chart of bank nifty from 20405 wave (a or i), (b or ii) and (c or iii) is completed at 24823, 23613 and 30945 respectively.
29214-28144 is support range for wave (iv) and if BN trades below 28144 then only bigger decline is possible.
Since, this is a holiday season, the volumes are going to dry up and we should not expect any wild moves and there is a high probability that the market might be sideways the following week.
However, nobody, I mean nobody, even if you are Warren Buffet, nobody knows what is going to happen tomorrow.
My strong buying level is above 30950, but it should break...
In Bank nifty 30min chart from 28923 wave (i), (ii), (iii) and (iv) is completed and wave (v) is started from 30328.
31049-31495 is the projection range for wave (v) and 30419-30176 is support range.
Bank nifty if trades below 30176 then only negative.
In this 1hour chart of Banknifty wave (c or iii) started from 23613. And in this wave (i), (ii), (iii) and (iv) is completed at 25773, 25142, 29031 and 27703 respectively. wave (v) is completed at 29784 OR running as Ending Diagonal.
In short if Bank nifty has to fall then it should not cross 30540. Even if it touches 30541 then we will see much higher...
nifty bank on support of 28200 .... if break then it can fall upto 28000......
if break 28500 upper-side then go upto 29000 resistance....
no sell no buy recommendation....for observvation purpose only..
