Bank Nifty had been an uptrend but I have been seeing this one indicator which has worked very well in the past and it cannot be ignored.
KST (Know Sure Thing) indicator with the signal line is not sending across a very promising signal. See the below chart which was first published in the monthly update with lot more details and levels – The Financial Waves Monthly update.
Bank Nifty daily chart (KST) indicator and Elliott wave counts
KST on Bank Nifty: We are extending the cyclicality study using Know Sure Thing (KST) indicator to Bank Nifty as well and can be seen in Figure 10. KST is now at the zone of 60 which has resulted into reversal on prior occasions. The indicator has just turned down now.
Also note that the indicator has been moving up in 3 waves which we have labelled as a-b-c. Even the recent rise in indicator was in 3 legs.
Now it is time to keep the guns ready but do not pull the trigger yet. We are yet to see price confirmation by breaking below the support level in faster time. When it happens will history repeat itself?
Get access to the daily and monthly research reports and see yourself on realtime as the pattern develops. Our bias might blindfold us to see things we want but an indicator like KST gives a clear signal without any controversy. See complete research here
Mentorship – I will be sharing across my decades of experience in a comprehensive 3 months Mentorship program. #Technicalanalysis methods are available online for free but the interpretation of those methods with disciplined approach is the key to become successful in #trading. A mentor has gone through the pain over years to develop a disciplined approach to make a killing! Know more
No comments:
Post a Comment