dhinesh_kumar

Elliott wave analysis # revised wave count

NSE:BANKNIFTY   NIFTY BANK
In my last analysis, I told that unexpectedly wave 4 was completed and wave 5 rally started. But looks like still in wave 4 and forming more complex. Refer the chart for more details.

Comment: In my last analysis, I said the rally (wave 5) has started. But wave 4 was not completed. Even though it is still in wave 4, there should be temporary up-move to recent high where wave B of 4 completes.
Comment: Updated wave count
Comment: Wave Y completed today. After then wave formation confirmed further upside, maybe for wave Z. If so, the correction may take 2-3 days and sideway correction. If forming something else, I will update.

Comments

what is next..v of 3 completed
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@SWAVI3103 Wave Y completed today. Further wave development confirms some correction and upside pending. It may be sideway and take 2-3 days if the correction is for wave Z.
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sir banknifty will go 35850++ then short or at present 35700..because bnf has same high as yesterday and my count of i to vi is over..pls guide
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dhinesh_kumar SWAVI3103
@SWAVI3103, From 9jul low, it should be impulse. It is still in wave 3's inner waves. Now wave v of 3 is in progress.
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Good work
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dhinesh_kumar dasarajurajasekhar
@dasarajurajasekhar, Thank you
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