Look like BHARTIAIRTEL has completed triple three pattern (WXYXZ) and if this pattern is correctly identified then primary trend upward is going to come. If I would give 3-4 weeks time to analyze this.
If it starts going down then I will exit else its good long trade.. chances are high for reversal here.
If BANKNIFTY crosses 22907 then wave 5 will be confirmed
then going long which is more likely since look like we will have gap up opening
If it breaks the Friday close then it is confirmed that Banknifty will be bearish and selling will be good trade
At the Friday close BANKNIFTY is on the edge and in my chart i have considered it end of correction wave 4
Based on very basic understanding of wave principle. I believe that
1. If Monday gap up pull up then its wave 3 at lower degree and I will be taking intraday long
2. If we don't have gap up then there is a risk of going through C wave (correction) if it breaks the B point. then i will be taking intraday short.
Chances are high to get 1 since the SGX nifty is...
Based on very preliminary wave principle understanidng, i have drawn the nifty 50 projections. From this chart i believe the nifty 50 will rise continuously for couple of days. Unless we see a gap down tomorrow then neither the structure will be valid nor the bullishness.