It is moving inside a descending broadening wedge pattern similar to NIFTY50.
Expecting BANKNIFTY to hit 34900-35000 level before the last dump towards 32000 level if it will form Adam & Eve pattern I have highlighted as V shaped bottom and rounding bottom.
Only if the 5th wave is overextended, it can reach the edge of the pitchfork at 30180 level.
Both the scenarios are possible.
35000 level is at the confluence of 20 MA, trendline resistance and the top of the runaway gap which is going to get filled.
Will update as pattern unfolds in near future.
Do your own due diligence before taking any action.
Peace!!
Expecting BANKNIFTY to hit 34900-35000 level before the last dump towards 32000 level if it will form Adam & Eve pattern I have highlighted as V shaped bottom and rounding bottom.
Only if the 5th wave is overextended, it can reach the edge of the pitchfork at 30180 level.
Both the scenarios are possible.
35000 level is at the confluence of 20 MA, trendline resistance and the top of the runaway gap which is going to get filled.
Will update as pattern unfolds in near future.
Do your own due diligence before taking any action.
Peace!!
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.