Wavetrading
Indigo- Important Resistance-1355If Resistance 1355 holds as the top then we expect 1180 ( 1st Target) & falling below 1180 more on the downside
Last Price- 1322 / 13:03 Hrs / 5th Oct 2020
Strict Stops Above - 1355
1st Target Downside - 1180
BankNifty Outlook - Going High Towards 22000BankNifty Outlook looks bullish to me from here.. As per my Wave Analysis.. BankNifty has Complete Wave A and Wave B of Longer Correction.. Where Wave A was an Impulse Wave.. Wave B was a Running Flat Correction and Now Wave C is in progress which should be Impulsive as per my analysis.. which means we can get Targets of 22000 or higher for BankNifty very quickly from here on..
However, If BankNifty goes below the low of Wave (B) as per my chart then this complete pattern would go wrong..
I would trade by going long on BankNifty and Keep Stoploss just below Wave B and look for Targets of 22000 and Higher..
Note: Its just my analysis and how I look at charts and markets as of now..
Happy Trading!
Banknifty Forecaste 30Mar2020BankNifty after a smart rally is not under a correction of that rally and would correct 50 to 61.8% fib levels which would complete Wave A and Wave B and a rally further towards 24000 is possible for Wave C to complete the zigzag correction after which we shall see another big fall which will be at least equal to the first fall if not more...
Happy Trading!
PCJeweller Buy SetupPCJeweller is a Buy Setup after a zigzag correction for a target of around 320 with Stoploss at around 138. Volatile Stock so trade based on your Trade Plan and Money Management Rules..
IRB Good Buying Opportunity!!IRB is giving a good buy setup on the weekly charts. After consolidating for a long time IRB is breaking out. Its a nice risk reward trade.. Buy & Hold IRB for a target of around 350 wil Stoploss of 200.
Happy Trading!!
