Punjab National Bank Trading Strategies

Daily Trading Strategies 15/02/2017
Daily Level	Punjab National Bank
R3- 147.00	Buy	Buy above 144.70 with Target-145.70/147 with Stop Loss-144.30. Note: If open price is below 144.70 than order is active
R2- 145.70
R1-144.70
Resistances
Support	Sell	Sell Below 141.60 with Target- 140.60/139.30 with Stop Loss-142.10. Note: If open price is above 141.60 than order is active
S1- 141.60
S2- 140.60
S3- 139.30

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Nifty Trading Strategies

Daily Trading Strategies 15/02/2017 Daily Level Nifty R3- 8848 Buy Buy above 8818 with Target-8831/8848 with Stop Loss-8808. Note: If open price is below 8818 than order is active R2- 8831 R1-8818 Resistances Support Sell Sell Below 8875 with Target- 8761/8744 with Stop Loss-8885. Note: If open price is above 8875 than order is active S1- 8775 S2- 8761 S3- 8744

Nifty Elliot Wave theory explained with projection of wave 4

NSE:NIFTY Till date Nifty on wave 3 on larger degree of Elliot wave Explanations:- ** If we subdivided wave into shorter degree or in 5 wave its match with Fibonacci retrenchment levels in all subdivision of wave 1. ** On wave 2 which is a corrective wave also match with Elliot wave rules and its take corrections within 50% of wave 1. ** On wave 2 subdivision are also match with corrective wave patterns. ** Now comes to Wave 3 which is need to match with Elliot wave theory where Fibonacci levels should be 161.8% of wave 1 , which is 11340 approx. ** If the wave 3 subdivided into shorter wave degree, we can see the 5th wave is forming and it has to be within 1.236-1.618% of wave , equal to wave 1 or 61.8% of wave 1+3 . ** So now comes to conclusion on 5th wave * Either 1.236- 1.618% Fibonacci levels of wave 4 which is on 11630 approx * Or equal to wave 1 which is 12450 approx * Or 61.8% of wave 1+3 which is also near 12457 approx ** Now end re

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