Timeframe: 15 min
BANKNIFTY has formed a five-wave structure whose sub-waves are visible. The price has accomplished wave (5) at 46983.2 and started rising for the new impulsive cycle. The price has broken out 100 EMA and trading near 200 EMA.
Entry is possible after the breakout of 47868 with the following targets: 48100 – 48380 – 48632+. Fake-out will create an invalidation and have to look again for opportunities with a fresh count.
We will update further information soon.
NSE ESABINDIA – Breakout setup
Timeframe: Daily
NSE ESABINDIA has recently broken out of a 26-week-old structure on the daily timeframe chart, identifiable as an A-B-C formation. The wave C materialized near the sub-wave C of a smaller degree. The price has broken out moving average band of 20/50/100/200 EMA.
Yesterday, the security surged by over 11.27%, breaking out of the narrow range of the correction. If the price sustains above 5447, traders can trade for the following targets: 5691 – 5845 – 6113+.
Free subscribers can take the previous day’s low as an Invalidation level.
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Nifty bank looks bullish. rally is near, and bears will be powerless.
your views on UBL?
Very good work! How to unlock this hide post?