Nifty Bank IndexLong
Is it poised for big move?
Aggiornato
it appears .we can get appreciable move next week.
the correction that has been going on was 4 th wave pull back.
Bracketed no indicates major waves,
while nos not bracketed indicates the subwaves of wave 3.
This week for bank nifty is NR7 week.
It appears the correction of public sectore banks like sbi,bank of boroda
and canara bank are over,and this week happens to be NR7 week for icicibank and axis bank.
conditions now are quite favourable for bank nifty.
I may update with hourly chart and weekly chart.
Do connect with me by following me and liking my post.
Please go through my previous posts of bank nifty,
the correction that has been going on was 4 th wave pull back.
Bracketed no indicates major waves,
while nos not bracketed indicates the subwaves of wave 3.
This week for bank nifty is NR7 week.
It appears the correction of public sectore banks like sbi,bank of boroda
and canara bank are over,and this week happens to be NR7 week for icicibank and axis bank.
conditions now are quite favourable for bank nifty.
I may update with hourly chart and weekly chart.
Do connect with me by following me and liking my post.
Please go through my previous posts of bank nifty,
Nota
this post is likely to be updated,even during trading hours.If it receives sufficient likes
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just ignore uml and median line on the chart.that are parts of another chart.As obvious from the chart it is forming triangle.Only point e is left.breaking out of triangle is essential .Nota
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it appears e doneNota
not done yetNota
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consolidating.Nota
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Today bank nifty was consolidating trading in a narrow range.it is NR4 day for it. If out performance of nifty IT continues then bank nifty likely to be subdued.
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six days of consolidation.It was NR7 day,By thursday it should have good move.Best way to trade if you are long hedge with otm put.
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today's range of bank nifty was 243.and atr of last 15 day is 469.so range expansion in coming days expected,
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