Previous support existing at 28530
and intraday target 28342 of Chanel.
Finally, intraday support is at 28340 nearby.
We may see a pullback 11 o clock nearby.
- Long term tight channel since 2016.
- 3 excesses at the value and one excess at value low.
- 5 waves are completed.
- A previous Resistance and Wave(3) at 28227(can be upcoming support).
- 50 days moving average is at 28080 nearby (too far for work as support).
- Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug 2019(approx. plotted).
Conclusion: From a longer perspective, there is a still Problem in Banknifty,
Updated at 9:35 AM 31st July 2019
PLAN A : SELL BANKNIFTY AUG future 28935 nearby and stop loss 28950 above fort targets 28725 and 28465-28500 intraday
Detection Turning candle at value low (low of Channel). Normal pull-back should be above 11120 above on spot nifty.
Real support of the channel is at 10958 nearby. We have seen two recent Candle which is sign for PULLBACK . I was expecting pull-back after 11 o clock.
TRADE PLAN A: Buy NIFTY future Aug. 10915-10950 with stop loss of 10900 and targets 11125-111227
TRADE PLAN B: BUY NF aug. 11035 above with stop loss 11000 for targets 11125-11145 and 11190
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