BANKNIFTY FRACTAL ANALYSIS

Analysis & Reported by DEBABRATA BHATTACHARJEE

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CMP 17626      
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DATE: 23.06.2016
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Today I analyze about BANKNIFTY using the fractal Theory. Today also great event in world economy this is BREXIT.  So I try to find what result comes from BREXIT decision.

Come to main point, what is the movement seen in BANK NIFTY on coming time.  There are two similar pattern namely pattern 1 & 2 in chart 1  (Larger view of pattern 1 in chart 2).  The pattern 1 is smaller and is made of points ‘a’, ‘b’, ‘c’ …. ‘u’. The pattern 2 is larger in size and consists of the points ‘A’, ‘B’, ‘C’….. ‘R’.  In the pattern 1, the point ‘r’ was formed between 50% & 62% of ‘l’ & ‘q’ range. In the pattern 2, the point ‘R’ could be formed near 62% of ‘L’ & ‘Q’ range, if flow the fractal theory. The price now trade around 17626.  It is near 62% of ‘L’ & ‘Q’ range. So I can decide point ‘R’ is formed on 62% of ‘L’ & ‘Q’ range in pattern 2.

CHART 1

Now focus to the point ‘s’ in the pattern 1, was formed at 89% of ‘l’ & ‘q’ range. According fractal theory, I expect, in the pattern 2, point ‘S’ should be formed at near 89% of ‘L’ & ‘Q’ range i.e. around 11700 (approx.)  after made points ‘1’, ‘2’, ‘3’ & ‘4’ as similar as patter 1 like ‘1’, ‘2’, ‘3’ & ‘4’.

CHART 2

Now I focus to the points ‘t’ in the pattern 1, the point ‘t’ was formed , very sharp and high angle price movement and with the zigzag. So I think fractal rule  flow  in pattern 2 for create point ‘T’, I hope we see point ‘T’ in pattern 2 should be formed as similar as point ‘t’ in pattern 1, that mean point ‘T’ in pattern 2 formed after  very sharp and high angle price movement and with the zigzag.

So main point is what level should be target of point ‘T’ in pattern 2. In point‘t’ in pattern 1 formed near 123% of ‘l’ &‘s’.  According fractal theory my decision is point ‘T’ in pattern 2 should be formed 123% of ‘L’ &’S’  range i.e. around 23000 (approx.)

So my strategy for invest in banking sector, very good buying level if BANKNIFTY come around 12000. 

This report is incompletes if don’t give my any view about BREXIT. I think according   chart    BRITAIN IS EXIT FROM EURO UNION.

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