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Bank Nifty: Countdown

NSE:BANKNIFTY   NIFTY BANK
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On the larger timeframe there is another pattern sitting near the previous high made by BN , I ll update it in the comments.

Regards
Comment:
Comment: So the 5th is about to begin with a bang..the gap. Let's see how this one proceeds.
All the best for this week.
Comment: yesbank looking strong so far.
Comment: I am outta YesB..its good to packup in strength.
Comment: LT looks weak as of now but 1378 can be a turning point. Its up to us, which direction we like to play. Do some experiments and learn well.
Comment: LT paid quick six points in pocket.
Enjoy.
Comment: HindUni can show strength in case of positive move in Nifty.
CanBank may show weakness in case index goes lower.
Comment: Read the above comment in relative terms means out-performance and under-performance.
Comment: I am not too optimistic about this BN EWcount now. Potential 4th has gone too deep into the 1st leg so it can be said that morning bang was a the high of a 5th which is truncated short.
Leaving besides EW, we are near a critical level of 26213 in BN as we are at 10638 on Nifty. If both indices break these levels then bearishness might rule once again.
Thanks for ur support.
Brilliant
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Bravetotrade Siddharth_Kr_Jain
@Siddharth_Kr_Jain, Thanks for appreciation.
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one of the basic Elliot wave principle is that Wave 4 may never end in the price territory of wave 1
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Bravetotrade m.suresh.gupta
@m.suresh.gupta, Yes that's the theory but in practice things may proceed differently. Such intrusions have been seen at many occasions on these smaller time frames.
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m.suresh.gupta Bravetotrade
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