NSE KSCL – Bullish Rally After 1220+
NSE KSCL made a high of 1602 and has started unfolding a corrective formation on the daily timeframe chart. ATR 41.12 shows good volatility, but ADX 19.19 means the market is weak and moving sideways. Due to the sideways move, EMAs are not giving a clear outlook.
According to wave projection, the price has completed wave 5 of wave (c) at 1033 and is now ready for an upward impulse cycle. NSE KSCL has also formed a value area, and a breakout above it will strengthen the bullish outlook. If the price breaks above 1220, traders can aim for the following targets: 1274 – 1332 – 1390+. We may see a pullback before the upsurge. The bullish scenario is valid until it breaks down at 1033.
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BankNifty – Steep Fall Marks Bearish Triumph
Did you trade the NSE BANKNIFTY’s Price action setup?
Click here: BANKNIFTY FUT: Price Action Outlook
We had written clearly, “On the other hand, a breakdown below 55,690 may invite selling pressure, leading the index lower towards 55,300 – 55,000 – 54,800.+”.
Timeline:
- 22 August 202502:20 PMNSE BANKNIFTY FUT reached the first target of 55,300 and made a new low of 55,225.
- 26 August 202509:15 AMPrice hit the second target of 55,000.
- 26 July 202509:15 AMNSE BANKNIFTY FUT touched the final target of 54,800.
- 26 August 202509:40 AMPrice made a new low of 54,552.
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Thanks for the profit. Looking forward for more setups.