BankNifty : Insync with Waves & Double BottomThis is delayed post, went to place few orders, Sorry Guys ! Could have abandoned this post but as it got insync with My prev.post of BankNifty, I wanted to share that all methods work well in markets if used properly.
In last BankNifty post 10days before we have seen elliott waves and wave 5 pointing upwards. I initiated long from that time with stops below support zone. Now with Fed event off the list we are looking at great move upside.
Just one point, whether its Trendlines,Elliott's,Double Bottom or Moving average , Everything works in trading.
There is no best strategy, its how you use it, 1000 ways to make money in markets !
If you get chance on intraday enter long, I dont have much to say !
Bankniftylong
Bank Nifty : What;s Brewing & What's Next with Waves !BankNifty... After some 10 days we are back to Nifty's favorite brother BankNifty. Many of you might remember how we rode Nifty with Waves, Now same for BankNifty ? Let's see... We already caught the Wave-3 and made money{check prev.post if you have missed that post}, Now lets concentrate on Wave-4. BankNifty getting caught within 100 points range is rare occurence, now its in 19700's region which has prev. ranging zone.
If we go down on timeframe {15mins}, we can see some ranging patterns, I cud have drawn that but I wanted to present overall view on BankNifty, so used Hourly. On the breakout 19700's{Short} & 19900's{Long}, if there is Long breakout on Banknifty it will be treated as Wave-5. Else we can grab few points in remaining wave-4, so after BankNifty reaches next zone 19400's we can decide what to do further.
If you have doubts on Elliots, check TechM sunday special post on drawing Elliott's.
Happy Trading !