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subhagghosh
Oct 21, 2020 8:15 PM

Expiry Special Analysis for 22th Oct'2020. 

Nifty Bank IndexNSE

Description

#banknifty keeping the analysis simple.

Decision line:- 24,596 above long & below short.

Will prefer to go long above the red resistance line ( above 25k only)

As per wave structure, the minor impulse wave is done today & we see a corrective wave.

Buy Above 24600 T 24820,24050 and 25,180
Sell Below 24600 T 24384,24250 and 24125

Will avoid aggressive long, as there is RSI divergence also seems which show internal weakness gripping IN.

Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Comments
subhagghosh
As suggested, the whole day bank nifty was weak.
ssiddhanta
@subhagghosh, superb analysis Subha.
Manoj_Korrapati
up side target 25050 not 24050, edit it!
ManojKumarBanga
Interesting Analysis. What do you think will it break 24050 today (22 Oct 2020)
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