Nifty Bank moving up for wave (c) which has 5 impulse wave
currently resisting near channel resistance 44650
Above that high volume resistance zone 44850-45000
if sustains 44200-250 than one more try to break channel resistance possible.
NTPC moving with imulsive 5 wave up of which wave 3 done near 226 and post that stock went into the consolidation zone for one month for wave 4.
now moving up for wave 5.
all-time high of stock is near 242
Banknifty future moving in down ward channel shown with yellow color in above chart
high volume zone is 44000-43800 . Here partial booking of shorts and trailing with tight stop loss are advisable.
Be careful in fresh shorting near high volume support zone.
banknifty futre in 15 min chart trading in downward channel
currently banknifty future is near channel resistance confluence with fib ratio 38% at 45171..
POC level near 45280
still banknifty making LH-LL PATTERN so be cautious in buying at higher levels
In above 30 min chart of banknifty we have given elliott wave count.
Banknifty made high near 44499 and when it made high that time macd and rsi both
shown negative diversgence which given a hint of coming correction in banknifty.
This correction is started in form of wave ABC which seems completed near channel support of 43345 where macd and rsi both...
Banknifty future currently in broader range that is 43300 and 44100
and narrow range being 43500-44000
MACD and RSi given positive diversion.
POC is near 44000 which acting as magnetic level.
Shorters should stay cautious... as lower levels getting rejected till now
Banknifty key hurdle 44000--44100 as below
goden fib : 44036
prev. swing : 44083
support near 44350-400 being triple bottom in this zone
curve trendline support near 43200
market is range bound .. play support resistance untill decisive break of 44100
#nifty hourly chart: all time high is near 18888
Astro hurdle near 18720 & 18800 (astro and psychological level).
and downside support near 18440-500
5th wave done and consolidation is going on between range of 18440/500 ----- 18720/800
range bound expected.. play the range
#banknifty 15 min chart : confluence of poc and triangle support near 44000-44100 given good trading opportunity to buy on dip.
now upside gap near 44440
till it is above 44000 and poc (power of control)44100 .. it is in favor of bulls
buy on dip mode
note: above info is for educational purpose.
market is subject to risk.