The fall from 18500 - has reached upto 18100 - almost nearing the target of 18050 -a=c condition. The fall has been perfect within a channel in five waves.
INTRADAY UPDATE 12.00 PM:
BN fell as per global clues trading below 200DMA 18500 from opening and has reached the 50DMA at 18350.
50 DMA is 18350 and 100 DMA is 18400.Though the he 50 DMA and 100 DMA are in fast rise mode but as it is below 200DMA - the upmove will be determined by close above 200DMA.
The Head and Shoulder visible in the above Chart - will be triggerred on break of 50 DMA 18350 - on EOD basis - very huge targets upto 17400-200
Pre market view:
Bank Nifty broke the initial support at 18900 and reached 18600 levels. Support at 18480-500 200 DMA breakdown of which would lead to bigger C down towards 18000.
3 comments:
Good Morning. Thank you. Keep going.
Thank you Satheesh ji. Awesome.
Thank you Rajagopal Sir and Debdeep.
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