This 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...
As per the price action saw on Monday, the gap down suggested a bulk selling and it shall continue the same for tomorrow until it reaches to previous support level where we could see some buying back that shall move the prices up to fill the previous gap and clear out demand and supply discrepancy.
Target:19400
Stoploss: 20300