Wednesday, February 19, 2014

BANKNIFTY Move stretches

Hi friends,
                  Had posted banknifty chart expecting a=c ie c finishing near 10440+
but the wave is stretching and we are nearing 161.8% ie 10688+.
Lets look at the chart.
BANKNIFTY Move stretches
From the fib extension
we see 161.8% comes
at 10680+ we are in
striking distance of it.
This is resistance zone
we would reverse if
we fail to cross this
level ,Tomorrow if
you see this level on
screen short it with

50 point stoploss .If we continue the upmove then ,I would consider this as impulse
And would adjust the count accordingly.



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