Reason for shorting:
As per Elliott Wave theory, Bank Nifty has completed the 1, 2, 3, 4, 5 moves, and wave 5 went up in a contracting triangle ED (Ending Diagonal).
It has completed a degree, and now we are expecting a correction. Based on Fibonacci retracement levels, our minimum targets are 0.618 and 0.786.
Time Frame: Weekly
Stop Loss: Above ATH (51130)
Targets: Mentioned in the chart
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
As per Elliott Wave theory, Bank Nifty has completed the 1, 2, 3, 4, 5 moves, and wave 5 went up in a contracting triangle ED (Ending Diagonal).
It has completed a degree, and now we are expecting a correction. Based on Fibonacci retracement levels, our minimum targets are 0.618 and 0.786.
Time Frame: Weekly
Stop Loss: Above ATH (51130)
Targets: Mentioned in the chart
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
تم إغلاق الصفقة يدويًا
As we mentioned yesterday in the comment section, it was a good decision to exit early for a small loss at 50,300 instead of waiting for 51,130. The long position is already 800+ points in profit.Please refer to the comment section for the detailed message.
Be an adaptive trader; there should be no emotional attachment to trades.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.