Banknifty SAR Trades

- 18770 was the Banknifty's SAR for the day.
- Long SAR triggered @ 18003, since then it's in BUY mode.
- Re-entry triggered around 19048; i.e 90% of 19023-19277.
- Long entry marked on chart by circle.

Banknifty SAR Trades

- 18597 was the Banknifty's SAR for the day.

- Long SAR triggered @ 18003, since then it's in BUY mode.

- Re-entry triggered around 18994; i.e 61% of 18865-19202.

- Long entry marked on chart by circle.

Banknifty SAR Trades

- 18486 was the Banknifty's SAR for the day.

- Long SAR triggered @ 18003, since then it's in BUY mode.

- Re-entry triggered around 18869; i.e 50% of 18781-18956.

- Long entry marked on chart by circle.

Probable Nifty EW count

As discussed in last analysis on 12th Oct 2016, Nifty seems unfolding wave 4 which is probably completed at 8002.

Breaking 8002 wave 4 will overlap wave 2 which will invalidates whole EW count and needs a recounting, started from 6826.

Lets see how it unfolds...

Nifty Day chart:

By holding 8002, seems wave 5 unfolding now and its targets projection coming around 8821 to 9504.

Nifty Hour Chart :

For short term, holding 61% to 80% of last retracement conditions are favoring a bounce. Pattern completion and R:R would help for initiating a trade with small stoploss.