Sunday, March 8, 2020

Tuesday, March 3, 2020

Bank Nifty as of 3rd March 2020


Bank Nifty Spot -

Looks like 5 waves(C wave) from 31599 completed as - 

1.  31599-30259=1340
2.  30259-31082=823
3.  31082-29053=2029
4.  29053-29625
5.  29625-28574

Now up move started ?

1.  28574-29281
2.  29281-28756
3.  28756->29463(100%)/29630(123.6%)/29733(138.2%)/29900(161.8%)

Long trades looks risky in current scenarios but formation of bullish harami can take price high tomorrow.
Long above 29268, short below 29077.

Bank Nifty Future - 

Monday, March 2, 2020

Bank Nifty as of 2nd March 2020


Bank Nifty Spot -

If a 5 wave is in progress from 31599, then wave counts are as -

1.  31599-30259=1340
2.  30259-31082=823
3.  31082-29053=2029
4.  29053-29779
5.  29779->28806(38.2%)/28506(50%)/28206(61.8%) - done @28574?

If 5th wave yet not finished and subdividing as below then -
5.1. 29779-29328
5.2. 29728-29625
5.3. 29625-28574
5.4. 28574-28967
5.5. 28967->28507(38.2%)/28364(50%)/28222(61.8%)

Long above 28956, short below 28850.
Bank Nifty Future -

Sunday, March 1, 2020

Bank Nifty as of 28th Feb 2020


Bank Nifty Spot -

If a 5 wave is in progress from 31599, then wave counts are as -

1.  31599-30259=1340
2.  30259-31082=823
3.  31082->29230(138.2%)/28914(161.8%) - done @29053?
4.  29053->29523(23.6%)/29828(38.2%)/30068(50%)/30307(61.8%)

If corrective 4th wave starts, find out what is the nature of subwave 'a', is it a/b/c or in 5 waves.
If bank nifty falls further on monday, look for support near 28938. If 28938+/- level doesn't hold, next possible level could be 28626.

Long above 29250, confirmation above 29320/29416. Short below 29077.
Bank Nifty Future -


Thursday, February 27, 2020

Tuesday, February 25, 2020

Bank Nifty as of 25th Feb 2020


Bank Nifty Spot -

Wave 'B' done @31082 - a 61.8% retrace of wave 'A'. Now 'C' has started keeping below 31082. This 'C' wave can target 29743(if 'A'='C').

Now in subwaves - If 1st of 'C' is in progress as per below -

C.1 31082-30338

C.2 30338->30610-30640(flat?)
C.3 30640->29896/29720

Long above 30535, short below 30368. Look for weakness near 30600+/-.
More low below 30336/30235 and high above 30650.

Bank Nifty Future -


Monday, February 24, 2020

Bank Nifty as of 24th Feb 2020

Bank Nifty Spot -

Wave 'B' done @31082 - a 61.8% retrace of wave 'A'. Now 'C' has started keeping below 31082. This 'C' wave can target 29743(if 'A'='C').

Now in subwaves - If 1st of 'C' is in progress as per below -

C.1 31082-30429

C.2 30429->30583(23.6%)/30679(38.2%)/30833(61.8%)

Long above 30535, short below 30415.

Bank Nifty Future-

Bank Nifty as of 31st Mar 2020

Bank Nifty Spot - 'c' of 4th still in progress? Long above 19300, short below 18870. Sell 20000CE below 19300 and sell 18000P...