After a drop form Wave 5 (major), BANKNIFTY is trying to move upside for Wave 2 (intermediate)
So if BANKNIFTY opens higher above 43750 and hold, it can trade to the level of 43840-43933 and sustaining above 43950 it can move to the level of 44211 where it can face resistance at WAVE 2 (intermediate) and pull back to 44000-43900
if prices opens gap down below 43480 and faces rejction at 43500-43492 prices might see a drop to the level of 43390 - 43254, where should look for buying opportunity with SL of 50 pionts
So if BANKNIFTY opens higher above 43750 and hold, it can trade to the level of 43840-43933 and sustaining above 43950 it can move to the level of 44211 where it can face resistance at WAVE 2 (intermediate) and pull back to 44000-43900
if prices opens gap down below 43480 and faces rejction at 43500-43492 prices might see a drop to the level of 43390 - 43254, where should look for buying opportunity with SL of 50 pionts
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.