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trademanthan

BNF -> 42.2K Triple Top, Elliot Corrective Wave, RSI Divergence

Short
Nifty Bank Index (NSE:BANKNIFTY)  
trademanthan Updated   
NSE:BANKNIFTY   Nifty Bank Index
Elliott Wave Double Top or Bottom Trend Analysis bnfanalysis bnf bnfnextmove
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elliottwaves doubletoporbottom trendanalysis bnfanalysis bnf bnfnextmove

1. BNF is forming triple top pattern on daily and hourly chart, this can correct till 42200 for further up move.

2. Motive Wave (12345) of Elliot Wave is almost complete, the corrective wave ABC is pending

3. RSI divergence exists at daily chart.

4. If BNF fails to break 44500 decisively, BNF can correct till 42200, so trade with caution

Disclaimer - The above analysis is only for education purpose.
Trade active:
The breakout appears to be fake breakout, let's wait for pullback till green line. If green line break, we will add more short positions
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