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BANK NIFTY FUTURE has formed symmetrical triangle patternBANK NIFTY FUTURE has formed symmetrical triangle pattern on 1 hour chart, where we're expecting more upside in the upcoming session.
Our short term levels are 42256/42819 in the upside and 40976/40040 in the downside.
Disclaimer : The mentioned levels are only for educational purpose, please do your own analysis before taking any action in the live market or consult your financial advisor for the same.
BANK NIFTY FUTUREWHAT NONE OF US CAUGHT ON TO......
THE FIB RETRACEMENT FROM THE LOWS OF MARCH, CLEARLY SHOW THAT AS SOON AS WE CROSSED THE .786% LEVEL, THE MARKET WAS IN MOST CERTAIN TERMS GOING FOR THE UPPER BAND OF 1.00% LEG UP, WHICH WAS AT 25270. EW THEORY SAYS IN THE BOLDEST PRINT THAT FOR WAVES TO COMPLETE, THE MARKET HAS TO PERFORM CERTAIN OBLIGATIONS. THE LARGER WAVE ''1'', FROM THE LOW OF MARCH, COMPLETED AT 25270 ( IT CLEARLY HAD A 5 WAVE IMPULSIVE PATTERN ON THE WAY UP). THE NEXT OBLIGATION OF THE MARKET AS PER EW, WAS TO UNFOLD A CORRECTIVE PATTERN, WHICH IT CLEARLY HAS DONE IN THE FORM OF WAVE 2 (ABC IN PLAY CURRENTLY AND STILL UNFOLDING)..... @ .618%, WHICH COMES TO 22240 APPRXX ( CAN EVEN EXTEND TO 21700 WITH AN EW EXTENSION) . BANK NIFTY FUTURE SHOULD STOP HERE AT THIS LEVEL FOR THE MOST REWARDING WAVE @ WAVE 3...... IF A=C, THEN C WILL BE ATLEAST THE SAME LENGTH UPWARDS AS A, AND CAN EVEN EXTEND AS PER THE EW EXTENDABLE FIBS FURTHER UP.
HOWEVER, IF IT DOES NOT STOP HERE, THEN IT IS AS SIGN OF WORRY, AS THE WAVE WOULD BECOME A CORRECTIVE PHASE WAVE WITH 3..6..9.. WAVE CORRECTIVE PATTERN
I WAS WRONG IN MY PREVIOUS POSTS AS I HAD MISSED THIS ASPECT OF THE CHARTS.
SHOULD ANY ONE HERE NEED ANY HELP, PLEASE FEEL FREE TO CALL ME ON 9366831223...... IT GOES WITHOUT SAYING...... THAT THERE IS """"" NO"""" CHARGE.
DISCLAIMER........ WHAT I HAVE POSTED ABOVE ARE PURELY MY OWN ANALYSIS AND OBSERVATIONS..... KINDLY TRADE AS PER YOUR OWN ANALYSIS