Correction continues in Banknifty!

by Dean Market Profile on Friday, August 24, 2012 in Banknifty, Elliott Wave, Indices

4 Hourly Chart

What will happen in Banknifty? Where will this current weakness take the prices? There are two bands, one green and other pink. Green band ranges from 10200-10050, and the pink one ranges from 9900-9675. Both these possibilities are bullish though. However if we break below the lower level of the pink band, this bullish scenario will come under scrutiny.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Friday, August 24, 2012

Correction continues in Banknifty!

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