Analyzing The Next Move of the BankNifty

19 May 2023

I believe that the fire in the BN is still intact. The 5th wave has long way to go. Today in this morning it has opened gapped-up and drifted down and made a low of 43532. It looks like BN has taken a support of the trendline and we have seen a Pin Bar like candle. So, we may see a strong upmove in the coming days. This is low-risk entry zone with a SL below 43532. BN Futures long will work better rather than call options.