Hello Friends, In daily chart of BN there is a possibility of 5000+ points decline. Wave counts and logic behind this is already explained in chart with upside break even point. Kindly do your own research also before taking the trade based on this analysis.
Comment:
Bank Nifty closed above 61% (36563). Ideally wave (b or ii) retraces in 50%-70% range but most of the time it will reverse from 61%. That is why I have given 61% as break even point but still it could be a corrective bounce. We have to focus on smaller time frame for support range and breakeven point. Just like I posted Nifty update
