EWT – NSE BANKNIFTY Poised For Final Wave C
Aktualisiert
Timeframe: 2h
As per our previous idea, we have identified a market scenario characterized by supply pressure and bear dominance. At a price level of 44154, we observed the occurrence of Wave (3), followed by a corrective phase known as Wave (4). Wave (4) exhibited a double three pattern.
Currently, the price is in the process of forming the final sub-wave (c) of Wave (y) within Wave (4). Wave (c) has taken the shape of an ending diagonal, suggesting that a breakout above the upper boundary of the diagonal in Wave 4 of Wave (c) could potentially lead to a new high. To take advantage of this potential upward movement, traders may want to consider entering trades as long as the price remains above 44091 for following targets: 44430 – 44840 – 44912+.
Note that if the price fails to break the resistance level at 44091, the trade setup loses its validity. For traders who are more tolerant of risk, an alternative strategy could involve entering a trade after a reversal occurs from the support level at 43200.
As per our previous idea, we have identified a market scenario characterized by supply pressure and bear dominance. At a price level of 44154, we observed the occurrence of Wave (3), followed by a corrective phase known as Wave (4). Wave (4) exhibited a double three pattern.
Currently, the price is in the process of forming the final sub-wave (c) of Wave (y) within Wave (4). Wave (c) has taken the shape of an ending diagonal, suggesting that a breakout above the upper boundary of the diagonal in Wave 4 of Wave (c) could potentially lead to a new high. To take advantage of this potential upward movement, traders may want to consider entering trades as long as the price remains above 44091 for following targets: 44430 – 44840 – 44912+.
Note that if the price fails to break the resistance level at 44091, the trade setup loses its validity. For traders who are more tolerant of risk, an alternative strategy could involve entering a trade after a reversal occurs from the support level at 43200.
Anmerkung
This was the previous idea:
Anmerkung
Only if you are interested in wave theory:
Don't forget to hit the like button.
Anmerkung
Anmerkung
A new high is possible if the price breaks 44489. The reason is Wave (X). It holds the power of the whole correction. What are your views?
Anmerkung
Price touched the final target of 44912.Anmerkung
Anmerkung
Next level is 45180, which is reverse Fibonacci target level.Anmerkung
Update which was given 1 hour ago was not suppose to be here. Apologies for the wrong update.Anmerkung
Correct updateBANKNIFTY spot: Price has touched the first target 44430, and made a new high of 44668.
Banknifty future: Price made a new high of 44774.
Anmerkung
45180 is a reasonable level. We are not going to react and exit prematurely. It's better to use trailing Sl to engulf the profit.Anmerkung
ATH Futures: 44823.15Anmerkung
Anmerkung
BANKNIFTY SPOT TOUCHED THE FINAL TARGET OF 44912.Anmerkung
Anmerkung
Anmerkung
Now, I want your thoughts on banknifty! What do you think about NIFTY and banknifty?
Share your ideas on comment section.
Anmerkung
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.