Not willing to go below 38.6 percent level.

In last post I had posted one update,
bank nifty needs to close below the 38.6 percent level
for further break down.
today it has closed with strong green candle whose high is higher than previous red candle
though low is lower than previous red candle.
it shows inherent strength of bank nifty.
we should see follow up buying in bank nifty.
let us see if this it can develop in to complete five wave strucure or not.

Comment:

Comment:

daily candle is strong candle ,low is lower than previous candle's low but high is higher than previous candle.