zigzag correction in BANKNIFTY
Updated
ELLIOTT WAVE ANALYSIS:-
View-1:-
It seems that a zigzag wave has completed.
A bounce back looks like connecting correction wave B is forming, a little bounce back may happen to form a connecting waves in a correction form.
View-2:-
It seems that a zigzag wave has completed.
An impulse wave was emerged and an impulse 1st wave was completed and a corrective 2nd wave was completed it seems to be an emerging of impulse 3rd wave.
Expected a reasonable bounce back if the 43600 level sustains. If the level break and go down then there will be another zig zag formation may take place.
T1=44439
T2= 44586
T3=44957
T4=45274-45615
For View 2 stop loss will be 43600.
For wave 1 there will be no stop loss.
i'm not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor.
View-1:-
It seems that a zigzag wave has completed.
A bounce back looks like connecting correction wave B is forming, a little bounce back may happen to form a connecting waves in a correction form.
View-2:-
It seems that a zigzag wave has completed.
An impulse wave was emerged and an impulse 1st wave was completed and a corrective 2nd wave was completed it seems to be an emerging of impulse 3rd wave.
Expected a reasonable bounce back if the 43600 level sustains. If the level break and go down then there will be another zig zag formation may take place.
T1=44439
T2= 44586
T3=44957
T4=45274-45615
For View 2 stop loss will be 43600.
For wave 1 there will be no stop loss.
i'm not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor.
Note
Target 1 has Reached and Target 2 has missed with 18 points.soon we ca expect the targets will hit back.
From todays opening it touched the high of 1.68%.
It reached 1.15% from the level we suggested in 1 day.
Note
Targer 2 has achieved.Note
2 target achieved in 2 days. it reached 1.57% from our entry.
From low it reached 1.88%.
From here trail your stop loss.
Trade closed: target reached
Reached our target level. now we wait and watch the wave formation.
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