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What is the Short-term View of Banknifty as per Elliott Wave?

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Wave Analysis elliotwaveanalysis elliottwaveretracement elliottwaveforecasts
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trendanalysis chartpattern waveanalysis elliotwaveanalysis elliottwaveretracement elliottwaveforecasts
3rd Wave of BN has reversed exactly from 278.6% of wave-1 and made a short cycle A-B-C correction where C has came down to 138.2% (very common) and where the 3rd wave has corrected nearly 23.6% (very very common for an extended wave) of total upmove as 3rd wave approx 4466 points. And if it was a completion of 3rd wave at 43740 we might have completed correction. But there is a reasonable chance that BN may have another downmove towards 42470 area which is major support area.So, we need to have a neutral view and be watchful for its consolidation.
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