OI shows Short Build Up on #banknifty and last one hours was long unwinding on the index.
Tough resistance zone:- 22,372 - 22,550.
180 min trend indicator, showing weakness.
Two harmonic patterns are detected:-
1. AB=CD, which gives a target of 22,294:- High was 22,324, DONE
2. CYPHER, which gives a target of 22,589 and Fibonacci target 22,372/22,550.
I keep on repeating, we are in a broad range of 21k to 23k and 22k is the pivotal point, just play the range until we have decisive breakout or breakdown, that's the untold story of the last 2 months.
Decision Zone 22,099- 22,197
Any stong move is only possible above 22,750.
Potential Reversal Zone is 22,372 - 22,550, if we see any reversal signal here, shorts can be initiated with SL of 21,750.
Trade what you see, not what you feel, trading is all about making money & nothing else.
Tough resistance zone:- 22,372 - 22,550.
180 min trend indicator, showing weakness.
Two harmonic patterns are detected:-
1. AB=CD, which gives a target of 22,294:- High was 22,324, DONE
2. CYPHER, which gives a target of 22,589 and Fibonacci target 22,372/22,550.
I keep on repeating, we are in a broad range of 21k to 23k and 22k is the pivotal point, just play the range until we have decisive breakout or breakdown, that's the untold story of the last 2 months.
Decision Zone 22,099- 22,197
Any stong move is only possible above 22,750.
Potential Reversal Zone is 22,372 - 22,550, if we see any reversal signal here, shorts can be initiated with SL of 21,750.
Trade what you see, not what you feel, trading is all about making money & nothing else.
