BankNifty Irregular Triangle- What's Next After the 44710 Peak?Good Morning WaveTalkers!
Before today's market sprung into action, just 15 minutes pre-start, we shared some insights. And guess what? The market performed its magic ! 🎩✨
📌 Highlights :
- The Index almost mirrored yesterday's high, stopping a hair's breadth away at 44693 from the 44710 peak. WOW! 😲📈
- Now, the million-dollar question: Will the fall conclude around the 44425-44450 region? And most importantly, can we maintain above the critical 44400 mark?
📌 Let's Break It Down :
- If the last leg completes its descent, maintaining above 44400, this could potentially outline an Irregular Triangle.
Irregular Triangle :
- What's with the Irregular Triangle? In these patterns, the second wave (Wave-B) surpasses the starting point of Wave-A, giving it a unique structure.
- For the magic of this pattern to manifest, it's crucial that we don't dip below the presumed Wave-D low of 44400.
📌 What's Expected? (Trading Strategy)
- If the Index halts its fall near 44400, a sharp northward surge towards 44700 might be on the horizon.
- Beyond 44755/44760, the Index might leap to the 44925-45000 range. But beware, this zone is a potential resistance. And seasoned traders know - support is where we buy, and resistance is where we sell!
Remember, at WaveTalks, we don't just observe the market; we listen to its whispers. We translate its complex language, making it simple for you. With us, you're not just watching the waves; you're riding them! 🌊✨
Disclaimer :
The views expressed are purely analytical and not a call to action. Always consult with your financial advisor before making any trading decisions.
Stay tuned, stay sharp, and keep riding the waves with WaveTalks! 🌊✨🎉
