I sincerely appreciate all the support thus far!
Here are my insights on the Bank Nifty through Elliot Waves.
CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades.
We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The entire fall can be viewed as one full Elliot wave, and our current position aligns with the 3rd wave, specifically within wave (iv) of wave 3 (Explained in the chart).
Should my assessment prove accurate, we may anticipate wave (v) on Monday, potentially resulting in a substantial drop of 700 to 750 points. Following that, there can be a substantial recovery (wave 4).
Happy Trading!
Here are my insights on the Bank Nifty through Elliot Waves.
CAUTION: The market holds the ultimate truth, and my analysis carries inherent uncertainty. Always keep appropriate stop loss for your trades.
We've witnessed a considerable downturn in the market, yet I anticipate further movement southward. The entire fall can be viewed as one full Elliot wave, and our current position aligns with the 3rd wave, specifically within wave (iv) of wave 3 (Explained in the chart).
Should my assessment prove accurate, we may anticipate wave (v) on Monday, potentially resulting in a substantial drop of 700 to 750 points. Following that, there can be a substantial recovery (wave 4).
Happy Trading!
Trade active:
Now that's the wave 4 I talked about. A clear bullish day.
Not sure how long this will last. Wave 5 fall should be on the cards. Already I had entered overnight short positions. Hopefully, the index falls tomorrow.
Not sure how long this will last. Wave 5 fall should be on the cards. Already I had entered overnight short positions. Hopefully, the index falls tomorrow.