Banknifty wedge pattern breakdown and near support

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Banknifty after breakdown from wedge pattern given
vertical fall towards 50550

Important fib level to watch
61.8% : 50465

Improtant gap area low 49655.

Shorters should be cautious near above two levels as vertical falls mostly retraces fast on upside..

I am personally will not short near important levels and will wait for bullish pattern to form near support zone.

Discalimer : i am not SEBI registered.. study is only for educational purpose

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تعليق

made high near 50800 till now from golden ratio support..

reminded not to short near important support

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تعليق

50892 high made

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تعليق

50942 high made

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أغلقت الصفقة: تم الوصول للهدف

high made 51013.. profit booking advisable near psychological level

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تعليق

51192 high made intraday...
banknifty moved as expected in morning analysis that
wedge breakdown with vertical fall tend to retrace fast on upside...
took the support of golden ration near 50465 and given a rally of 600+ points
in intraday... enjoy the profit