Captured above are Fibonacci levels for BankNifty. BankNifty has already nearly achieved 9.786 extension. Monday 30th is a possible turn date as per Timewave. Stay tuned and keep following for realtime market updates on where it is headed.
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Intraday tim fractal unfolding at 13:19 today will decide the future course for Nifty. Don't pay attention to budget, GST etc, whatever is needed to determine Nifty direction is already there in Timewave!
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Mostly chances are BankNifty will NOT change its uptrend and will provide another opportunity to go long. Lets see.
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BankNifty is in no mood to top out here, and will continue the uptrend. One can take or add fresh long position here with 19480 BankNifty Spot as TSL. Fibo targets are in the chart. Next turn date I will communicate later.
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Changing my view here, exit here the long position while its still in some 10 points profit and go short with TSL at 8675.