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Nifty Bank Index

bank nifty analysis

By deepgups
Updated
Dear Friends, I have come onto the forum after a very Long time. Please remember WAVE X typically does not cross the previous minor iv. Even if it does it must take out this zone for a meaningful Rally, else we are headed down to complete WAVE Z
Note
Nifty has made a sacroscant mark at 17711...... this will be tough to cross now. Opening tomorrow below 17374, opens up the gates for a break towards 17100 and lower. We get into a BEAR phase once Nifty breaks below and stays below 16540
Trend Analysis
deepgups

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