Saturday, November 30, 2019

Bank Nifty as of 29th Nov 2019


Bank Nifty Spot -

Resistance zone - 31990-32005, Support zone - 31840-31825. Shorts can be taken below 31900, more low below support zone. Long above 32005 only.

If correction started from 32156 then counts are as -
A. 32156-31774
     i)   32156-31970
     ii)  31970-32027
     iii) 32027-31791(~ 12.36%)
     iv) 31791-31929
     v)  31929-31774
B. 31774- 32006(done?)
     a)   31774-31956
     b)   31956-31900
     c)   31900-32006
 Or it's just 'a',  'b' will target 31825+/- and 'c' back to 32000+/- and then C will start?

If B is done then C to target appx 31624 +/- ?


OR if this is 3rd wave from 31056(as per previous post),
then  subwave (i) is done at 32156(689 points), (ii) is in progress (done if trade above 32006) and can target appx 31730(61.8%)/31669(70.7%)/31614(78.6%)

Moreover looks like corrections will be short till 31600+/-. and then it till start moving upside. Above 32000 Bank Nifty will rock.


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