gave the thrust from 21600 levels to 21900 as I was talking to myself frequently during the post- 21600-21600 not breaking keep an eye. It went sharp upside 300 points on 18th April2017 as expected & had a sharp fall from 21947 post our profit booking.
Got a V-Shaped Recovery important clue to let us know that some top has been formed so 21947- Taking it to be an important top & reference point.
This whole sequence had extended wave-3 - which I experienced very closely.
Update 7 - Story 2010-2013 Cycle will it repeat - gives long term outlook & can become reality if BN starts moving below 20575
Update 8 - has important zone 21395-21400 zone where Bank Nifty Took Support & spending time- once BN slips below 21395-21400 zone - then it can become more exciting for bears & we shall come with target projections & shall update in the post.
Recap from 17605
17605 was the printed low in Dec2016 -from where this sizeable impulsive leg started & looks like it has put 21947 -an important top on 18th April2017.
All charts below are nested charts - clicked can take you into the history- how we moved. Starting from 17605.
Update 1- & Happy Jan2017 Series on 28th Dec2016
Result- Selling was advised below 17700 -BN did not move below 17700 - later Happy Jan2017 Series started
Update 2 - Bank Nifty 2016 Diary -Tricky 17828-18443-18740
Result - Those who read that post now realise the importance of 17828 levels
Update 3 - Super 17828 Support - Did you use it?
Result - What a start to Bank Nifty in 2017 - 2nd Jan2017 low@17844 Gave Intraday 200+ points & 3rd Jan2017 came even close to key level of 17828- formed a low of 17830 -Wow!
Learning sessions in between with Candle (Corrected Later to - pattern)
Update 4 - Final Leg from 18723 lows - Happy Republic day 26th Jan2017
Result - BN jumped from 18722 lows & crossed 19200 - I closed position at 19265- because it was moving upside like a crazy fellow.
Update 5 - 1500 points & 345 -What Next- Are you Kaabil?
Result- Got Important low at 19435 within the updates & moved upside
Update 6 - Can RBI Rate Cut@8th Feb2017 -Hold Bank Nifty
Result- we had 19435 as important swing low
Update 7- Story of 2010-2013 Cycle will it repeat
Result - Just to See if 20575 -Key level is taken out soon but it did not & kept moving upside.
Update 8- to cap at 21700 & to Sell below 21395
Result- Got important low@21395-21400 zone- Down Move can start only below 21395- if sustains
Update 9- Beauty to realise key level at 21550
Result - Boom - Have you heard the explosion from 21600 to 21900 - Target Achieved- Made high at 21947