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If you are long 1454 is STOP LOSS,

If you want to go for SHORT, SELL only when it's a breakout from the CHANNEL pattern. BELOW 1454 LEVEL.

And as per ELLIOTT WAVE, it seems completed a 5 impulse WAVE structure since it's the INCEPTION. So Next ABC correction pattern.
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BANKNIFTYElliott WaveFibonacciHDFCBANKParallel Channel

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