BankNifty : Bats n Elliots, can we bank on them ?!
Banknifty last week hit trailing stops and I exited my positions for breakeven, booked 50% only on 1st Target. So its a ok-ok trade only.No we have potential bat pattern completion & ABCD pattern completion around same zone in BankNifty, so guys when 19250's are reached be vigilant. Another thing Banknifty is not like usual stocks which trades in 100's, we are looking at 5 digit number here, so a simple more of 100points is nothing for BankNifty, Take care of your stops and where it needs to go.
Finally we have Elliots also in BankNifty aligning with Bat & Abcd pattern, wave(4) will be targets for our patterns. Let Banknifty break support zone marked above, then only we can confirm whether the pattern really completes or not. If you want to trade the waves of Elliott, Go down a timeframe look for opportunities to enter. Probably if Nifty bounces backup, Banknifty can do same thing, Lets see what happens !
Finally we have Elliots also in BankNifty aligning with Bat & Abcd pattern, wave(4) will be targets for our patterns. Let Banknifty break support zone marked above, then only we can confirm whether the pattern really completes or not. If you want to trade the waves of Elliott, Go down a timeframe look for opportunities to enter. Probably if Nifty bounces backup, Banknifty can do same thing, Lets see what happens !
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Pings are not working, I can't reply anyone... so private message;s not working guys. Only comments the other way around !
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Should I say anything ?
Thank you, Ace :)