Clearly, nifty is facing ceiling at 10692 to 10749 level. It needs to break this level for upcoming 11100 to 11174 level which will reach the peak for right shoulder in daily chart. It should hold the momentum for this upmove. If vix cools down below 16 it may help to reach the peak.
yogi_sharma_elliottician
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RSI, has gained strength which is positive while 50 sma moving average is also positive and following a uptrend.
The Nifty bank chart formed a double bottom and done a breakout from its peak which is positive enough to touch 25530 to 25700 level which is .618 retracement of wave A of the same. This can help to push nifty 50 to its right shoulder peak at 11100 to 11176 level.
yogi_sharma_elliottician
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@joel-vg, Also fib retracement from 10700 to its low 10024 will result in fib extension at 11125 level at 1.618 ratio. Still closing above 10750 -800 is crucial.