bijoy2526

BANK NIFTY the whole picture in brief.

Long
NSE:BANKNIFTY   NIFTY BANK
Are you confused still?
this weekly chart presents a vivid description
of the whole on going wave counts.
we are up in three waves then we had a pull back in wave 4
which is 38.5 percent of wave 3.
Incidentally we had a pull back in wave 2 which was around 61.8 percent of wave 1.
Only we are waiting for the on going wave 5 to take out the high of wave 3
Coz only 3 waves up move is not sufficient to level the on going up move in
bank nifty from the start as an impulsive move.
The retracement of wave 2 and wave 4 nicely represents the alternation .
Only wait for the high of this week to be taken out.
Results from sbi ,icici bank. axis bank will boost bank nifty .
And don't expect hdfc bank to correct more.
Don't forget to like this post ,and follow me to get updates.
Look at the monthly chart then weekly then daily and then hourly to
get a clear picture. Time frame in lower time frame is always chaotic.
This post depicts the probable movement of bank nifty .
This post is not meant for short term trading as it is based on weekly chart.


Comment: Don't forget to like my postand follow me to get updates.

Comments

third extention may also be forming.. big bull on banknifty expected..
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