Intermediate Trend is UP and currently wave 5 in progress (Target 28,215)
The minor trend is UP & currently an ABC correction (Target 21,850)
Structure Damages below 20,405
#banknifty #trading #trade #tradesetups
Explanation:- We are in an uptrend and the largest wave 3 got completed from 17,105 to 25,232 and now the correction is in progress, AB leg is done and BC leg in progress, which gives a target of around 21,850 (which is also a very demand zone).
Hopefully, before Diwali, the correction will get over and we will resume back to wave 5, which gives an upside target of 28,215 by Dec'2020 to Mar'2021.
The minor trend is UP & currently an ABC correction (Target 21,850)
Structure Damages below 20,405
#banknifty #trading #trade #tradesetups
Explanation:- We are in an uptrend and the largest wave 3 got completed from 17,105 to 25,232 and now the correction is in progress, AB leg is done and BC leg in progress, which gives a target of around 21,850 (which is also a very demand zone).
Hopefully, before Diwali, the correction will get over and we will resume back to wave 5, which gives an upside target of 28,215 by Dec'2020 to Mar'2021.
