#Banknifty Next Week Analaysis 6th to 10th July'2020.
#banknifty is struck in broader range of upside [22,479 - 22,380] and downside [ 21,086 - 20,916] from 24th June to till date.
The decision zone is [21,703 - 21,808], upside +ve and below -ve.
The wave structure is not damaged and is intact for the last 8 days, decisive big move either side is on card:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get damaged below 20,929
Note:-
Daily Chart:- Medium-term trend is down, the short term is up
2 H Chart:- consolidation / neutral
1 H Chart:- Trend is +ve but losing momentum 20,500 will be the pivot point.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹.
The decision zone is [21,703 - 21,808], upside +ve and below -ve.
The wave structure is not damaged and is intact for the last 8 days, decisive big move either side is on card:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get damaged below 20,929
Note:-
Daily Chart:- Medium-term trend is down, the short term is up
2 H Chart:- consolidation / neutral
1 H Chart:- Trend is +ve but losing momentum 20,500 will be the pivot point.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹.
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