Price has made extreme high, and impulse moves have started a correction. According to Elliott wave price confirmation, Safe traders can enter when the price breaks wave B at 40160.
Sub-wave C of wave 4 is about to complete. If price breaks wave B, It has the potential to make a new high.
At present, the price has neither made higher-lows nor sub-waves of wave 5. If the trader wants an early entry with a small stop-loss, traders must wait for wave ((2)) sub-wave of wave 5. The common retracement of wave '2' is 61.8%, and wave '2' never overlaps the starting point of wave ((1)). If the bank nifty starts to move downward, it will make a new leg then start marching upward.
Stay in touch for regular updates. Show your support with likes and comments. Thank you.
Quote of the day "If you can learn to create a state of mind that is not affected by the market's behavior, the struggle will cease to exist."- Mark Douglas