This is only analysis not any trading recommendation.
it can clearly seen from the chart it had bounced from 100 period weekly average some
days back.Last week it has nearly touched 20 period weekly average.
probable wave counts shown in the chart.
weekly stochiastics are in oversold condition ans cross over seen there.
Recently though bank nifty did correct but it had not violated march low.Indeed it has outperformed nifty ,even dow and nasdaq as all of them
have violated last low this year
Probablity of taking out this trend line shown in the chart is very high this time.
But this may not take place at once.
closing above 20 period moving avareage this week is crucial this week.
Don't forget to like this post .follow me to get updates.
it can clearly seen from the chart it had bounced from 100 period weekly average some
days back.Last week it has nearly touched 20 period weekly average.
probable wave counts shown in the chart.
weekly stochiastics are in oversold condition ans cross over seen there.
Recently though bank nifty did correct but it had not violated march low.Indeed it has outperformed nifty ,even dow and nasdaq as all of them
have violated last low this year
Probablity of taking out this trend line shown in the chart is very high this time.
But this may not take place at once.
closing above 20 period moving avareage this week is crucial this week.
Don't forget to like this post .follow me to get updates.
Comment:
Comment:
For little more clarification updating it.
