Banknifty - Leading Diagonal Scenario (Fall 51800 to 51000)As we discussed in the Sunday Video... This is the alternate scenario of waves unfolding & if Index faces resistance in 51800-51900 zone, it can slip & complete the proposed 5th wave of an unfolding leading diagonal downside.
Strictly ------No Sell ---------Above 51800 ---------------------------------------------------
Downside Target - 51000 Approx.
From WaveTalks
Abhishek
Fifthwave
Century Texttiles Wave Counting !!TREND ANALYSIS & TRADE SETUP !
Elliott Wave Counting !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 5-8 times .
DLF: Potential to Retest the HighsHello traders,
As can be observed from the chart. The stock pulled back exactly 38.2% of the previous bull move and retraced. In my previous post this retracement was interpreted as an ABC type but as the price action unfolded it appeared quite more than that. The stock made a nice move and faced resistance near 200 odd levels. Currently it seemed to have started the last leg of a five wave move. Any pullback should be seen as a buying opportunity as the stock has a potential to retest 210-215 level.
Trade safe, stay healthy
Don't forget to hit like
Regards
Afraidtotrade