The bouce, which was evident in BN on expiry day looking to have impulsive nature & likely bulls are interested back again.
Look for a pull back in Bank Nifty either in the zone 19470-19480 or the zone 19430-19450 with strict stops below 19400. These zone could be seen as possible resting zones for push in the target zone 19580-19600 if it halts some time over there look to buy once again in the same zone as of 19430-19450 for another push upside but likely keep a watch 19252 -is a swing low -in any case BN should not go below that so one can also initiate buy calls with stops below that swing low.
Resistance Zone 19780-19820
If time permit then please update bank nifty analysis also .
As per our earlier discussion told that we are in 3rd wave and market is in downside.
Which completed at 19180..
May be 4th completed today/by tomorrow opening at 19300-19325 (around) and wave 5th wave have to catch tomorrow onwards.
Just want to polish my learning that whether it is C or 3 both are legging down?please help me out to get it rectify if I am wrong.
How can we identified/confirm that B has completed.
Recently i have started learning EW and found very interesting and effective.I am big fan of your analysis.
Thanks for your valuable view and time .