Dhaval_Parekh

Dhaval_Parekh

We can see that it created a cup shape and will create a handle, so if it breaks out above 38,461$ and RSI (14) crosses over 50, we may look for a target of 46,358$ or higher. However, if it continues to decline and gives a breakout below 36106$, we may anticipate it to fall to a target of 33,123$ or below. Levels Level 1: 38,461$ – Breaks, then uptrend to...

Dhaval_Parekh

Bank nifty seems to be in Wave 3 of bigger wave 5. This leads us to a target of 36624, followed by wave 4 is expected which will be till 34367. And final wave 5 would be completed with a target of 41268 which is 61% Retracement of wave 3. Targets:- Wave 3 – 36,624 (Green) Wave 4 – 34,367 (Red) Wave 5 – 41,268 (Orange)