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WaveTalks
Aug 19, 2022 4:03 AM

BankNifty - Ending Diagonal in 39600-39800 (Sell) Short

NSE:BANKNIFTY15
Nifty Bank IndexNSE

Description

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Rising wedges or Ending Diagonal ends the ongoing trend. This is not a call. Trade on your own risk please. Thank you

Trade closed manually

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10:52 Hrs / 19th Aug 2022

Last @ 39514

Pattern unfolding from the tops or high of 39759 is all mess again & fair chances that Index may fall to 39291 / 39275 which is support zone

If Index fails to drop further below 39291 / 39275 zone it will indicate that something is left at the top &

Index may attempt upside once again from 39291-39275 zone to 39800+ later

Thanks

Comment

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11:53 Hrs / 19th Aug 2022

Last @ 39125

Approx 800 points Drop from day high @ 39759 close to 39000 - Psychological level

Trend AnalysisChart PatternsWave AnalysisEnding DiagonalwavetalkstalkswaveRising Wedge
Comments
vanathi
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Very Nice analysis. Helped me to capture big move.
WaveTalks
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@vanathi, Cheers
pluckyPlayer64412
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🔥🔥🔥🔥🔥🔥💯
Rahul290696
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So Did you Take the Trade ??😈
TheNewsCrypto
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Great Study, Keep updating us
Parasuram
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if you get time keep us posted on further developments
WaveTalks
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@Parasuram, Done. Updated above.
Parasuram
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@AbhishekHSinghCMT, what if drops below 39291? tweezer tops.will it go for a minimum correction?
WaveTalks
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@Parasuram, 39291 is critical level & if index flirts up & down close to that level. Chances are bulls won't give up easily & better to be careful in sell. I will prefer holding sell till the time it below 39291
Parasuram
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@AbhishekHSinghCMT, thank you
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