As shown in chart bounce from 43600 looks like a Double zigzag correction and wave (c or iii) may decline below 42500 in coming days...SL for this trade will be above 45312(Not exact).
This is bank nifty 1hour chart in which decline from 46369 to 43600 is (a or i) and bounce from 43600 to 44950 is corrective wave (b or ii) and now wave (c or iii) is already started and its minimum projection range is 42180-41527. Use 44800 as stop loss for this trade.
Nifty forming Triple zigzag correction pattern from 19254 and it seems currently it is trading in final abc where wave a is completed and wave b is completed or will complete around 19420 then final bounce of wave c above 19484.......from 19484-19556 range big decline is possible. One can plan stop loss above 19556.
Nifty may decline towards 18021-17425 range in coming days. wave (v) started from 17554 is extended so there is a possibility that it can retrace up to 17554.
Most probably wave (iv) is completed at 17574 and wave (v) projection range is given in chart. As long as nifty is trading above 17478, upside bounce towards 17955-18191 is possible.
From 16914 wave (c or iii) is in progress and from current high 17638 there is a possibility of one retracement towards 17467-17361. But one should not look for selling for that support range because its against the wave (iii) trend so safe strategy is to buy when it comes in the support range for the target of 300-495 points. If Nifty trades below 17361 then only...
On 16th Jan I have posted an idea of BN in which possibility of decline were mentioned. that decline is already started and now we are in 4th wave of that wave c decline. 5th wave of wave c is still pending on down side which is explained in this video in hindi language. Thanks for watching...
Bank nifty 2 hour chart suggesting abc- X - abc pattern where abc and X is completed and in second abc decline a and b seems completed and wave c is in progress. stop loss OR upside break even point is given in chart.
Nifty is around Buying range mentioned in chart. 17961(61%) will be downside breakeven point so one can maintain SL around 17950. approximate target would be 400-500 points from buying range.
From 15511 an impulse wave is started and in that impulse wave iii is not extended(means projected less than 161%) that is why wave v should be extended as per the rule of alteration. So wave v started from 16438 is extended after breaking above 17205(61% projection of wave v). Now Nifty may decline towards support range 16948-16675 from given resistance range....
Hello Friends, In daily chart of BN there is a possibility of 5000+ points decline. Wave counts and logic behind this is already explained in chart with upside break even point. Kindly do your own research also before taking the trade based on this analysis.
In Nifty 1hour chart bounce from 15183 is looks like Double zigzag(WXY) correction. Wave c of second abc started from 15858 is already achieved its minimum projection range(16622-16803). Which could be the resistance range for nifty And retracement range of wave c started from 15858 to 16752 is coming at 16541-16410 which will act as support range. If nifty make...
In this 1hour chart from 18351 to 16837 wave A is completed and from 16837 to 17794 wave B is completed at double zigzag correction. From 17794 wave C is already started and 16280-15923 would be the target range.
Now 37482-37994 is an immediate resistance range. If trades above 37994 then only positive.
38317-38670 is an immediate resistance range for Bank Nifty. If it will not breaks above this resistance range then fall towards 36757-35954 is possible.
From 2636 (a or i) and (b or ii) is completed at 2954 and 2781 respectively. From 2781 (c or iii) may be started and minimum projection range is coming at 3099-3175 which can be achieved in coming days. 2844 is good support. If breaks 2844 then may consolidate between 2844-2750.
In this 30min chart 37674-37627 is first support range. If BN will not bounce from this range and trades below 37627 then 37452-37346 is next support range. Overall BN may bounce from first OR second support range as mentioned. BN is negative only if trades below 37346 which is 61% retracement of recent impulse(36876-38107).
In this video I have discussed important support range for Nifty and Bank nifty in 15min chart for monday. for better understanding kindly watch video. Thank You