Nifty Bank Index

INTRADAY BANK NIFTY UPSIDE

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📈 Bank Nifty Higher High Sequence - 1-Hour Time Frame

Bank Nifty is currently forming a higher high sequence on the 1-hour chart. According to Elliott Wave guidelines, the sequence remains incomplete as the index has yet to reach the 100% Fibonacci extension level between Wave (1) blue and Wave (2) blue.

This setup presents an intraday opportunity with a potential 500-point upmove. However, the risk is 284 points, which is aligned with the last swing low on the 1-hour chart.

While the opportunity may not be the most attractive, it still offers a 1.76:1 risk-reward ratio—a calculated risk for those looking to take advantage of this potential move.

📊 Trade with caution and manage your risk!

Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult with a financial advisor before making any trading decisions.

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