Major & Minor trend lines can be used for long period of time. Keep eye on Candle pattern at cross-sections(trendlines) For better look kindly zoom in zoom out the chart Educational & Learning Purpose only. Trade with your own risk.
Lic housing has completed 50 % retracement from recent top, may down upto 61.80%. Once enter into main trending chanel, will start journey towards new high @ 600+ to complete 5th wave. Lines for ready reference & for timely profit booking (for Swing traders). Kindly follow strict SL(320).
Learning & Education purpose only. Trade with your own risk. Market is simple, we are the one's make it more complicated! Even me too.
All these are tentative dates as well as TOP-BOTTOM. Carefull for False Break-outs Upside & down side. BN should bounce from or near to the bottom green line. Kindly checkmy earlier analysis for your further knowledge & ready reference! /in.tradingview.com/chart/BANKNIFTY/j36j8jbR-Bank-Nifty-Long-term-S-R-Fib-Retracement-with-Trendlines/ Happy Trading!
Can be used for long term too, simply follow the lines; For uptrend - follow dotted lines For down trend - follow dashed lines DL - Deciding line - Blue : Above up, Below down Temporary Supply & Demand zone Cautious at cross sections of lines & solid lines Trend on your own risk. This analysis is for learning & education purpose. "Market is not like it...
You can further extend these lines & they will work. Trade with your own risk. This is for learning purpose & to find S/R. Happy Trading!
Watch the price action in or near colored square, as well as the black greed lines. The black line may of further use..just extend them on your chart. Suitable for any timeframe! Happy Trading
If The bank nifty has made its high, I hope this structure will work ( Invalid only if break & trade above red line). This is by using Fib, time cycle & Harmonic pattern (as per my little knowledge about this). - Previous analysis for BN I was wrong(FYI only). This is for learning & Education Purpose only. Trade with your own risk.
Trade with your own risk. Learning and Education Purpose only.
Here my 1st attempt to publish Possible Bank Nifty Levels & Dates (approximately). Wave pattern will be invalid after breaking Support & resistance on hourly TF. Trade with your risk management & at own risk.