dhinesh_kumar

Elliott wave analysis # still in wave B of 2

NSE:NIFTY   Nifty 50 Index
Wave (2) is still in progress and wave B is about to complete in 1-2 days.

Banknifty update:
Comment: Updated wave count. Same possibility for BankNifty also. Banknifty may test 35850 level. Can't give exact level. Need to see wave development.

Comment: I expect yesterday correction completed. It may move upside. Invalidate level: 15488 and 35070
Comment: Updated wave count. Same view for Banknifty.

Comments

@dhinesh_kumar- Bank Nifty had started the correction wave 1? How far can this go before climbing on Wave 2 of correction?
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dhinesh_kumar kandaswamyp
@kandaswamyp, it is just yesterday correction extended. It may reverse from here to ATH
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Bas kar bhai, now get ready for 16100, 17500 every level one by one. Forget this Wave A,B,C, its already negated bearish view.
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Great view ! Brilliant analysis
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dhinesh_kumar tradeveertechindia
@tradeveertechindia, Thank you
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you are showing 15450-470 levels from here.. but looks like it might go to 1566r levels first.. what is your view on that?
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dhinesh_kumar Parasuram
@Parasuram, Very less possibility it can cross above 15620 level. From yesterday low, a wave was completed and expanding correction is in progress and about to complete. So there may be small fall to complete the correction
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dhinesh_kumar Parasuram
@Parasuram, I expect it may fall at-least till 15500 level
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Parasuram dhinesh_kumar
@dhinesh_kumar, yes.. thats on the cards.. but.. testing last week high 15470 and goin below need to be watched.. you had indicated 15400.. thats why i was interested
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dhinesh_kumar Parasuram
@Parasuram, The wave from 25th May low completed (wave 3) yesterday and then correction (wave 4) is in progress. As wave 2 (24 25 May) is sideway correction, this wave 4 may be sharp. So there is chance to reach 15450-70 level
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