BankNifty Elliott Wave analysis 20-01-2021
Updated
Om Namah Shivay
Today 20-01-2021, Bank Nifty made wave structure which is depicted in the chart.
Probably, The 3rd wave of impulse has reached the destination where it is supposed to. The 4 wave is in the making in option 2. And it can further move somewhat down and go up. In option 1 the 4th wave has been done and 5 is making. The impulse can extend further also and there are levels which to be watched for invalidation.
The 3 minute chart with divergence to be watched for the real result to come.
Originally the EW is drawn on 3 min chart.
This is for learning purpose. There is no trading suggestions given in this.
Om Namah Shivay
Today 20-01-2021, Bank Nifty made wave structure which is depicted in the chart.
Probably, The 3rd wave of impulse has reached the destination where it is supposed to. The 4 wave is in the making in option 2. And it can further move somewhat down and go up. In option 1 the 4th wave has been done and 5 is making. The impulse can extend further also and there are levels which to be watched for invalidation.
The 3 minute chart with divergence to be watched for the real result to come.
Originally the EW is drawn on 3 min chart.
This is for learning purpose. There is no trading suggestions given in this.
Om Namah Shivay
Trade closed: target reached
target is achieved
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