Hi All,
Hope everyone is doing well.
If we look at the chart we can see clear higher high and higher low pattern thus forming a rising channel. 50 EMA in 1hr will play crucial role as support. If that breaks target can be 19000 downside. Incase of upside move the 19480 will be the resistance.
Fin nifty is moving with taking resistance the trendline, friday we saw the price well respected the trendline and we saw some profit booking, profit booking may continue today as well
Today is finnifty expiry and the index is looking bullish. if it successfully sustain above 18730 then we see a strong bullish candle above 18k today. Keep this in radar.
Note - In last couple of expiry we have seen good sell off in 2nd half so trade cautiously & with proper hegde.
Bandhan Bank is forming Bullish BAT with 0.886 FIB and AB=CD Bullish Pattern.
Two bullish pattern with possible swing low in formation or about to be formed. Low Risk buy Setup.
Bit of Education : B point placement on the W and M Structure plays pivotal role on the possible D point placement. Also accompany Pattern with oversold RSI Indicator reading....
Harmonics with 1.13 FIB level and EW 5 wave impulse sequence is highly likely completed.
RSI Bearish Div
Short with SL as 10400
Tgts are 9650, 9500 and aggressive tgt of 9450
