Bank Nifty - Remainder of the week
מעודכן
I know we are all waiting for a bullish trend to take place in both indices. Me too equally :)
As of now, let's quickly understand the wave-count and analysis as per the chart data we have.
(Please note: The timeframe I have taken is of 75 Mins , which means the analysis may be fruitful for remainder of this week and not just for intraday)
- The Wave counts are as showcased hereby. We are in master ABC and then in probably 4th sub-wave completion to start another sub-wave 5th downwards if the swing high of around 48250 is not broken tomorrow/remainder of the week
- In case, the swing high is broken, the wave count changes and 3rd becomes 5th, the 4th becomes 1st.
- But instead of confusing with the alternate counts, let's just say that if price action denotes price stays below 48250, we are still in correction wave downwards and may go down. If price action makes a bullish 15 mins candle and stays above 48250, we may see an impulse wave formation upwards and price may go upwards with small pullbacks
- The week will be an interesting one, let's all study, learn and exercise our skills and leverage TradingView to maximum :)
As of now, let's quickly understand the wave-count and analysis as per the chart data we have.
(Please note: The timeframe I have taken is of 75 Mins , which means the analysis may be fruitful for remainder of this week and not just for intraday)
- The Wave counts are as showcased hereby. We are in master ABC and then in probably 4th sub-wave completion to start another sub-wave 5th downwards if the swing high of around 48250 is not broken tomorrow/remainder of the week
- In case, the swing high is broken, the wave count changes and 3rd becomes 5th, the 4th becomes 1st.
- But instead of confusing with the alternate counts, let's just say that if price action denotes price stays below 48250, we are still in correction wave downwards and may go down. If price action makes a bullish 15 mins candle and stays above 48250, we may see an impulse wave formation upwards and price may go upwards with small pullbacks
- The week will be an interesting one, let's all study, learn and exercise our skills and leverage TradingView to maximum :)
הפקודה בוטלה
The price action structure followed alternate path/option I mentioned in later half of the idea. It made bullish structure upwards thus negating the 12345 downside. Cancelling the downside trade manually as of now as there is no opportunity now.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.