#banknifty #ElliotWave analysis on monthly time frame:-
Wave 1 is from 2110 to 10,774 is of 8,634 points.
Wave 2 is from 10,774 to 3,314 is of 7,460 points, corrected here almost 86% of wave 1
Wave 3 is from 3,314 to 32,613 (29,299) extended 253% of wave 1
Wave 4 is from 32,613 to 16,116 (16,497) corrected almost 56% of wave 3
Move from 0-3 is 2,110-32,613 = 30,503 points
"Calculation of Wave 5: To calculate expected targets of wave 5, just count total move from the start of wave 1 to end of wave 3 (i.e. total move till wave 3) and add 38% and 61% at the end of wave 4. The resulted levels will be your expected targets. Extended 5th wave can go above 70% till 200%."
61.8% of 30,503 : 18,850 , Wave 5 projection is 16,116 + 18,880 : 34,966
78.6% projection is 40,091
100% projection is 46,618
Note:-
Fibonacci Ratio Relationship
• Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 • Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1 • Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 • There are three different ways to measure wave 5. First, wave 5 is inverse 123.6 – 161.8% retracement of wave 4. Second, wave 5 is equal to wave 1. Third, wave 5 is 61.8% / 78.6 % / 100% of wave 1-3 (total up-move till wave 3)
Hello sir..
Your analysis is just superb and extra ordinary..
It really helps to everyone..
And yes rajkpg13 is also right here..
I too have the same concern..
Please teach us.🙏
subhagghosh
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like kidhar hai 😀
pravinkosare
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@subhagghosh mostly ur view perfect ,m watch it always
subhagghosh
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It was my mistake, I should have published this analysis at least 6 months back, apologies 🙏
TheRadhaKrishna
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@subhagghosh, No need bro you always helps us to learn, Thanks for your Analysis, we learned a lot from you, you are one of our great Teachers, 😃
Thank you so much for Everything 🙏🏻
rajkpg13
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@subhagghosh, dear Sir your analysis is a bit difficult to understand for a simple folk like me.
If you could put it up with what to expect in near future with targets, that would be of great help.
Thank you.
@subhagghosh,
That I never miss,& it is of great help. Your analysis of 5th Feb & so confidently telling us that it will not sustain at such a sharp rally was superb.
Sir do you mean to say that BN can touch 40k & 46 k ?
subhagghosh
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@rajkpg13 possible, don't know in this rally or the next rally.
dhinesh_kumar
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Wave (iii) of (3) looks 3 way move. Is that possible ?
Your analysis is just superb and extra ordinary..
It really helps to everyone..
And yes rajkpg13 is also right here..
I too have the same concern..
Please teach us.🙏