BankNifty : Navigating the Waves for 28-Nov-2023
**BANKNIFTY Elliott Wave Analysis 📈🏦**
As we delve into the intricate patterns of BANKNIFTY, a compelling narrative unfolds. Currently positioned for an upside journey in Elliott Wave 2 on a larger hourly time frame, having gracefully concluded the last wave's ABC structure.
**Elliott Wave 2 (Hourly):** 43827 to 44167 🌐
**🟢 Upside Opening Symphony:**
Should prices orchestrate a green opening in the range of 43900-43927 and find a harmonic support zone near 43827-43800, an opportunity to join the upward movement arises. Consider initiating a buying position with a strategic stop-loss at 43770, aiming for the crescendo of 44167-44200.
**🔴 Downside Trading Sonata:**
Conversely, if prices start their performance below 43800, encountering a symphonic resistance at 43830, a short-side trade beckons. Begin this musical journey with a stop-loss at 43900, targeting the soulful notes of 43512-43353.
**🌊 Deep Opening Interlude:**
In the event of a deep opening below 43600, traders, let patience be your melody. Seek a buying serenade within the range of 43512-43450, securing your composition with a stop-loss at 43353. Alternatively, if the market achieves a sustaining crescendo above 43927, consider harmonizing your moves for the symphony's climax at 44167.
May your trading decisions resonate with harmony and your profits hit all the right notes! 🎵💹
*Happy Trading!* 🚀📊
As we delve into the intricate patterns of BANKNIFTY, a compelling narrative unfolds. Currently positioned for an upside journey in Elliott Wave 2 on a larger hourly time frame, having gracefully concluded the last wave's ABC structure.
**Elliott Wave 2 (Hourly):** 43827 to 44167 🌐
**🟢 Upside Opening Symphony:**
Should prices orchestrate a green opening in the range of 43900-43927 and find a harmonic support zone near 43827-43800, an opportunity to join the upward movement arises. Consider initiating a buying position with a strategic stop-loss at 43770, aiming for the crescendo of 44167-44200.
**🔴 Downside Trading Sonata:**
Conversely, if prices start their performance below 43800, encountering a symphonic resistance at 43830, a short-side trade beckons. Begin this musical journey with a stop-loss at 43900, targeting the soulful notes of 43512-43353.
**🌊 Deep Opening Interlude:**
In the event of a deep opening below 43600, traders, let patience be your melody. Seek a buying serenade within the range of 43512-43450, securing your composition with a stop-loss at 43353. Alternatively, if the market achieves a sustaining crescendo above 43927, consider harmonizing your moves for the symphony's climax at 44167.
May your trading decisions resonate with harmony and your profits hit all the right notes! 🎵💹
*Happy Trading!* 🚀📊
Trade active:
Level worked well, could able to sustain above important resistance zone