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Downward impulse wave four iv was sideways double three correction which looks to be completed. The next move of Banknifty about to be witnessed as wave five v.
This move can take it towards 0.5 Fibonacci retracement 21168 or as per support zone 21404-21027
SL/Invalidation level 22370
Confirmation: Dotted blue line has been broken which was important support line, Broken down heavily from range 22670-22080
I think 21400 will be tested.... Sbi and and kotak are the reason.....fall of Friday showed that something is wrong with banking stocks..... Lest see and hope for best..
Can you tell me tomorrow trade plan and levels for long?
kuldeepkharbanda
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My position open @22410 long short call 22400@386 I will rollover every expiry same position if in loss . Weekly rollover same position till profit enjoy
kuldeepkharbanda
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Am expecting downside will be over around 21400 buy futurelong 22000n short call 22000 short 24 sept 220.just rollover hedge trade also I didn't book a loss in any trade since last two month am postional trader
vijaysiddhi
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we wait for 22300 / 22350 level for short?
Niftydirection
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@vijaysiddhi, no sir that is SL for this analysis.