Bank Nifty (Neowave Update)NSE:BANKNIFTY
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Degree full forms-
L1 stand for Long term wave 1 and so on
M1 stand for Medium term wave 1 and so on
S1 stand for short term wave 1 and so on
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Key Points-
Stoploss- 44780
This needs to break for the confirmation of downside.
Support level- 45661
Use this as a stoploss for buying position
Target1 - 47200, Target-2 48800
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Probablities-
# we are in up cycles now, which is in sync with SC series.
So we will see bulllish ((i)) , ((ii)) and so on count.
#There is always comes a word "but" which says follow risk managment.
But Scenerios
Incase 1 support level is hit, Than stoploss also hit mean cycles is change.
Incase 2 if support level is hit and stoploss is not, than SC4 is still going
changes of case 1 is more in case of breaking of support level.
Thank You
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Medium Term Forecast
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