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BankNifty - Will Polarity Magic Repeat at 41840!!!Wishing you Happy Holidays and a New Year that makes you smile every day. Merry Christmas To All !!! Disclaimer There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Polarity Reversal Principle of Polarity is the idea that former support turns into resistance, and former resistance turns into support. In current case former resistance 41840 highs made on 15th Sep 2022 could turn into support at 41843 lows made today 23rd Dec 2022 if holds Holding 41840 Key level = Support, we expect targets 42500 42900 Idea published on 19th Dec 2021 - BankNifty Penultimate Pattern = Patience Idea published on 17th Dec 2021- BankNifty Penultimate Wave - Pattern Repeats
NSE:BANKNIFTYLong
by WaveTalks
13
BankNifty Penultimate Wave - Pattern Repeats BankNifty Penultimate Wave - Pattern Repeats - Is This A Warning Sign? Fractal is a pattern that repeats forever This short video talks about a fractal pattern which repeats quite often as penultimate waves = 2nd last wave that means only one last wave left One such pattern was identified in Nifty in 2021 September & Index topped at 18604 later troubling for next few months & formed bottom close to 15000 levels. Is a similar pattern unfolding in BankNifty - Ask this question to yourself. Thanks for watching this video.
NSE:BANKNIFTY
by WaveTalks
6
BankNifty - WaveTalks : Five Elements to WatchGood Morning All, Traders should watch these Five Elements to plan their trade next. Penultimate Wave ( Triangular Wave) Upper trendline Upper trendline of the triangle shown in the circle can act as support so Index holding 41450- 41500 can push short term upside 41750-41800 Key Level - 41051 1st warning sign for bulls - break of key level Critical Level - 40800 Most important level to break & bulls have to be extremely cautious Pattern Unfolding Next? Pattern which will unfold in next few sessions as it could be last wave (pattern) of the sequence which started from 37386.35 will decide the next course of action. Once critical level 40800 is broken - Traders have to be careful.
NSE:BANKNIFTYLong
by WaveTalks
6
HDFC- Cracks from The Top of 2507/ Hidden Divergence (Y-Wave)Hidden Bearish Divergence This occurs when price makes a lower high (LH), but the oscillator is making a higher high (HH). When you see hidden bearish divergence, chances are that the pair will continue to shoot lower and continue the downtrend. What we expect next? As suggested earlier on 17th Aug 2022 video idea that the correction could be deep towards 2000 levels & has to be reviewed at certain intervals as markets are too volatile. The last related idea can be checked below Thank you Related Idea for HDFC Bank Nifty - Will if follow in the footseps of HDFC?
HShort
by WaveTalks
8
Bank Nifty - Channels Basis For WavesChannels have been basis for wave analysis. Drawing them on price data offers support & resistance offering good trading opportunities. One such channel drawn from the bottoms of 37950 & connected with 39258 lows offered support to the opening low of 40288 as of today - 14th Sep 2022 Prices rallied sharp upside to new highs above 41600+ which is very close to upper boundary of the parallel channel. Can this halt the price action on upside & traders get fall again is the matter of due diligence to be done from your end. Kindly do not take this as a trading call. Thank You.
NSE:BANKNIFTYEducation
by WaveTalks
2
Bank Nifty-Short Term (Double Top Resistance)- Sell Below 40545From the last update- 40600 was the key level which halted the up move exactly & same level acted as resistance in opening session when index opened gap down. It travelled upside to 40605 close to 40600 resistance & dropped sharply down to 40378 -which is our critical level for upcoming sessions. Index has been choppy since the bottoms of 40280 & the waves looks corrective in nature. but we need price confirmation before taking any trades. Trading strategy Sell trade should be taken only if Index drops below 40545 - key level & we look for 40378 -critical level target downside & going below 40378 - our final target will be 40280 & 40000 (40K) Targets ( Active once index drops below key level 40545 as mentioned in Trading Strategy) 40378 40280 40000 Stoploss Once Index slips below 40545 & call activates - immediate high should be kept as stop loss which is currently 40685 Thank you for reading Check the related idea below
NSE:BANKNIFTYShort
by WaveTalks
12
BankNifty-Twist & Turn-Will it die on Euphoria? Island ReversalDisclaimer: This is not an Investment Advice. Trading leveraged products carries a high degree of risk and you could lose more than your initial deposit. "Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell." -John Templeton What Is an Island Reversal? An island reversal is a price pattern indicating grouping of days on either side by gaps in the price action. This price pattern occurs when two different gaps isolate a cluster of trading days. Pattern usually indicates reversal in trend - which can be short term or long term. Check the charts 7th Sep 2022 Gap down opening as shown in circle shape & 8th Sep 2022 - Possible Gap up opening in next trading session Check the Snapshot / Image - Island Reversal Pattern Try to relate with the current chart of BankNifty. Check yourself where are you in the chart & what could you expect if something similar has to repeat. Thanks for reading
NSE:BANKNIFTYEducation
by WaveTalks
9
BankNifty - Possible Ending Diagonal Scenario with Twist Ending Diagonal with a twist. As identified support zone 39550-39600. Index post falling from 40073 highs slipped to 39759 first / did some sideways & fall continued below 39759 to very important support zone & day low in the zone as 39564 Holding in support zone we expect Index to push once again 40K + target zone where you have to be careful. ---------------Not a trading call -------Consult your financial advisor before trading----------------
NSE:BANKNIFTY
by WaveTalks
13
Bank Nifty - Triangle 15 Mins ChartBank Nifty Index has been doing sideways in the range 37959 (critical high) & 38800 (critical low). Looks like unfolding a triangle. If you identify them then such patterns are amazing as traders get multiple opportunities between zone identified. Trading Strategy ( Current Spot Price- 39305) Plan A - Buy close in 39000-39100 zone if Index halts above 38981 which should act as minor support. Avoid taking buy positions if fails to hold 38981 Target - 39650-39700 Plan B - Selling close to critical high 39759 ( Avoid Selling If crosses above 39759 & moves higher above) Target - 39150 / Below 39100 - 38800 / Below 38800 - 38350 / lower targets have to be reviewed later.
NSE:BANKNIFTY
by WaveTalks
4
BankNifty - LongTerm / ShortTerm Outlook (Time Cycles)Long Term Outlook We picked time cycle tool available in drawing tools & tried getting dominant lows & highs. Over the process we realised that 18 Week cycle is dominant & running for Bank Nifty Index giving us important lows & highs. Next low could be due in middle of the Oct 2022 which could be shifted to close to Nov 2022 if current high holds at 39759 which was identified as the recent high Cycle Analysis Cycles are always measured from low to low only but at times we can break that rule for analysis purpose & we can even take low to high but these won't be termed as cycles because cycles are always low to low. In Cyclical Analysis Low = Trough High= Crest Short Term Outlook We identified an ending diagonal which marks the end of the trend & usually occurs later in the trend signifying that we could be close to the tops Till the the high of 39759 is intact we assume that another wave is pending downside & have to review again if 39759 highs are taken out on upside. On short term basis a parallel channel is used to get possible resistance zone which could be upper end of parallel channel close to 39300-39400 zone . If halts at the top then we may assume that fall may start or if Index fall below 38803 lows Thank you for watching the video & have a nice weekend.
NSE:BANKNIFTY
by WaveTalks
15
Bank Nifty - Bearish Butterfly at 39505 Highs Let us recollect the most important psychological level of 39500 as discussed could be the most critical level at present. A bearish butterfly harmonic structure completes in the required PRZ & reasons for fall discussed below & shown on the price chart. Possible Reasons for Fall Bearish Butterfly Harmonic Structure Evening Star Candlestick Formation Psychological level 39500 Bearish Divergence ( RSI) Stop Loss Above 39505 Targets Downside Target 1 - 39120 Target 2 - 38740 Target 3 - 37691 Target 4 - Will unfold once wave develops Thank You
NSE:BANKNIFTYShort
by WaveTalks
4
Bank Nifty - Will if follow in the footseps of HDFC?Let's get started with this beautiful Sunday Morning with an exciting idea on "Bank Nifty - Will if follow in the footseps of HDFC" By the end of this short video, you would realise that BankNifty could be unfolding similar structure once done for stock -HDFC in early 2021 / 2022. Hope, this long term idea attempts to answer our colleague's @punterpk unsettling questions. Thank you. Have a lovely day ahead. Thanks for watching.
H
by WaveTalks
13
Bank Nifty - Penultimate Wave ( Triangle )As per our discussion since morning 38800-38825 has been important zone. Few reversals were seen right from that zone. Hope you enjoyed. Banknifty - Patiently waiting, Index structure looks like unfolding a #triangle- the penultimate wave. Penultimate wave This is the last wave & sudden reversal can happen at tops. Trading Strategy Means holding our key zone 38800-38825 or Safe Traders Buy above 38900 Index can push upside for 38950-39000 / Crossing 39000 - Hold for more but also be careful at the tops as sudden reversal can also happen. Thank you Targets 38950 Above 39000 - 39100/39200 Later Reversal for downside targets...
NSE:BANKNIFTYLong
by WaveTalks
8
Bank Nifty - Head & Shoulder (Head - 38402)Bank Nifty could be unfolding head & shoulder chart pattern in 38155 - 38402 zone. The pattern is yet not formed & have to complete by reversing down from 38350-38402 to the neckline support Trading Strategy Trade will trigger only when neckline is breached which is a rising trendline marked as "Neckline" Index has to fall below neckline which is 38200 approx & later has to even fall below 38155 Always know your levels 38150-38160 was the important zone suggested yesterday in the last idea-Bearish Bat. Today morning while opening it had a fall from 38344 to 38155 which took support exactly in 38150-38160 support zone. Our Sell was suggested below 38150 which was not triggered. Stop Loss Above 38402 Highs ( Note- Pattern is not completed yet) Target Target 1 - 38000 Target 2- 37700 Thank You
NSE:BANKNIFTYShort
by WaveTalks
16