We are currently in final leg of elliot impulse wave. 5th wave completion zone is around 16440 to 16480 Swing trade can initiate for short side with SL of 16550 Never be in open ended trade. Always use SL and focus on position sizing and risk management. Never risk 5% of capital in single trade.
Currently in corrective pattern forming expanding triangle. Positional short can be initiated at 16022 but keep SL as tight as possible. Target can 15350 to 15450 range. . . Never be in open ended trade and never lose more than 5% of capital in single trade.
Banknifty is in corrective wave. Be patient to let levels triggered. Best risk reward ratio for swing traders to go short @ 35500 - 35650.
Nifty is in corrective wave, Bulls be cautious!