PSU bank nifty - accumulate for a 5th wave
Updated
PSU bank nifty had a high momentum 3rd wave that terminated around 4600
Since then it has corrected 20%+ in what is likely a 4th wave
Accumulate the names in anticipation of a 5th wave that should lead to highs towards 5000 on the index
Invalidation point for the wave count is red line
Since then it has corrected 20%+ in what is likely a 4th wave
Accumulate the names in anticipation of a 5th wave that should lead to highs towards 5000 on the index
Invalidation point for the wave count is red line
Note
Index up 8% + in 3 trading sessionsNote
Index had a good 10% rally from initiation. The broader market collapse has pulled it back to make a lower low. Best guess here is we are still in the fourth wave with a 5th pending
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