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NIFTYPVTBANK

Head & Shoulder - Trend ReversalHii All... Greetings.... Today I'm sharing with you Daily Charts of Nifty Pvt. Bank, we can see a very clear Head & Shoulder Pattern which has already Formed. Head & Shoulder Pattern is Trend Reversal pattern. I'm currently having bearish view in Nifty Pvt. banks. However on closing basis if upper resistance is breached. The we can consider Failure of Head & Shoulder Pattern. Thanking You Nikhil Choudhary Important Things 1. This is only for educational purposes only. 2. Never over trade. 3. Always keep Stop Loss. 4. Trade in limited quantity. 5. Taking a small loss is better than wiping up your whole capital. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy & Safe Trading Disclaimer – These ideas shared by me to all are my personal analysis / views. Im not a SEBI registered technical analysis.
NSE:NIFTYPVTBANKShort
by NikhilChoudhary2023
NIFTY PVT bank spot cmp 21450Nifty pvt bank index have life time high around 21720, if index fails to sustain above 21720 levels and give daily close above that levels, than consideration of double top pattern around 21700 levels, from where reversal till levels of 20000 can be seen on initial basis, 2 consecutive close below 20000 levels might lead to further correction in pvt bank index, as per wolf wave formation , index if manage to close above 21720 level, than index might face resistance around 22250-22500 levels as per ascending wedge pattern formation, resistance live of wedge around 22250-22500 levels can be seen,, reversal confirmation on daily time frame would lead to maturity of wolf wave formation from where sharp fall till levels of 20000-19000 can be seen this view is conditional ,, will wait for confirmation of either of study to enter in any decision.. pls read the condition with focus and than decide.
NSE:NIFTYPVTBANK
by RUDRA007
Nifty pvt bank bullish candidateNifty pvt bank cmp 17975 Elliot wave study Daily time frame At the moment index is trading at pre covid all time high levels of index,, which are in range of 17950 to 18030. It strong demand zone and is being respected in past history so the index can be considered at support levels . Wave 1 :- wave 1 consist of 3494 points and 41.17% move from the bottom,, this is the first impulse wave of impulse phase. Wave 2 :- Wave 2 have retraced 0.786% of wave 1,as per theory it can retrace from 0.50 to 0.886% of wave 1 wave 3 :- wave 3 consist of 10629 point and 112.% upmove from the bottom of wave 2, it is longest and strongest impulse wave of the whole impulse phase,, point wise comparision of wave 3 with wave 1,, wave 3 have extended 3.14 time of wave 1 which is considered as pie number and is important number in geometry and fibo numbers,, percentage wise wave 3 have extended 2.618 time of wave 1,,as per theory it can extend from 1.618 to 3.618% of wave 1.. so all criteria of wave 3 matches the elliot wave theory. Wave 4 :- Wave 4 have retraced 0.382% of wave 3, as per theory it can retrace from 0.23 to 0.50% of wave 3 pre assumption of wave 5 :- wave 5 is last impulse wave of impulse phase and it can be euphoric in nature,, it should be smaller than wave 3 and can be equivalent to extended compared to wave 1. Now if we consider wave 5 as equivalent of wave 1 in terms of percentage it gives upmove of 6695 points,, which is almost 2 times of wave 1 which can be considered as extended 5 wave of wave 1 in terms of points and equivalent wave 5 to wave 1 in terms of percentage,, now same calculation if compared with wave 3 it is 0.618% of wave 3 in terms of points.. so most criteria matched for this calculation. Index is trading around support zone of previous life time high,, if index manage to reverse from this levels and wave 4 matures,, if wave 5 unfolds from current levels it may lead to levels of 22800-23000,, RSI is around support levels of trend line of symmetrical triangle formation indicate strength around this levels.. Good bullish formation as per elliot wave in this index,,,
NSE:NIFTYPVTBANKLong
by RUDRA007
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