Nifty Private bank on weekly front formed Doji candle and on dialy front it is bearish candle no follow through after big bullish pin bar prior day, it means signaling more fall of 200 to 300 poitns downside from curret levels(23430) in comming days.Mentioned Support levels on lower side .In case it proves otherwise placed few Resistance levels on higher side...
in the past time psu bank out perform pvt bankn with a big margin and pvt bank underperform for a long time will the gaint run or the stay slept for some more time what is your view on it ?
-got rejection from 6 year old upper trend now at corona level support zone
-50 ema zone is also there should not fall further
-i am expecting good recovery in next few weeks keep in radar
The Private bank index broke the January low ahead of the Bank's nifty intraday today. Is this a lead indication that the next wave is down? I would like to think so. It would be wave C or 3 down for the bank nifty if proven true. The bank indices are below the moving averages already and the Nifty is testing the 20dma today. 45 mins to close the session.
Triple top pattern formation on hourly time frame,
if breaks out and sustain above higher range upmove might continue
if failed , get ready for sharp reversal in index
According to this pvt banks might face sharp selling pressure going ahead.
Keep watch
NIFTY PVT LTD:Close above 23100 likely to trigger a rally towards 23700/800 on the flip side Close Below 22700 likely to trigger a fall towards 22500/22200
Hii 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...
Nifty 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...
#Characteristics of Bow-Tie Diametric pattern
*It's a seven legged Elliot / Neo wave corrective pattern
*Wave A=G,B=F,C=E.wave D is connector.
*Wave B takes less time then wave A took to form,and can correct wave A by more then 61.8%.
#Reasons for not considering this entire swing as an impulse/triangle move
*Wave B has retraced wave A more then 61.8%(In an...
NIFTY PRIVATE BANK INDEX have paused at very important levels positionally.
break of current week low, can be very dangerous for the bulls, as private banks hold high weightage in the nifty index.
When price break any well defined boundary below 200 Day Moving Average then high probability price continue the trend or if price hold the well defined boundary then upside no limit
Nifty pvt bank spot cmp 18929
inverted head and shoulder
pole and flag
elliot wave
all 3 study suggest same thing
lets see if it follow the road map as per study..
