Wave 3 seems to have kicked off. Good Risk Reward for Long positions.
Wave 3 had kicked of on Weekly Time frame which itself would sub-divide into 5 waves ( as per the Elliot Wave Theory). Initial Target at 871.
Simple Channeling and Trendlines can offer great Risk-Rewards. Always wait for confirmation. Let's see how it goes.
Multiple observations for Bank Nifty Daily Chart: > Double Bottom Chart Pattern > Bullish RSI Divergence > Bullish Engulfing Candlestick Pattern > 38.2% Fibonacci Retracement done from September Low of 20404.9 A break above today's high could take it to next falling trendline close to 34500. (Not an investment advise)
>Triangle Breakout and Bullish RSI Divergence on Hourly Chart. >Next Falling Trendline at 14750 (Not an investment advise)