Elliot wave rejection move to opposite trend
When there was elliot wave impulse 12345 acception there was huge rejection of the elliot wave correction ABC which leads to downfall
I was wondering who is pushing the Bank Nifty, so I decided to visualize this by this simple comparison.
The three major PSU banks are compared with the NIFTY BANK there market cap is as follow
3 (25%) PSU banks out of 12 holds 28.05186836 % of NIFTY BANK VALUE.
9 (75%) Private banks out of 12 holds 71.94813164 % of NIFTY BANK.
...
AFTER A CLEAR GAP UP AND STRONG CANDLE
IT CONSOLIDATED AND TOOK FIBO SUPPORT
AND AFTER BREKOUT ON EXTENSION STRATGY
IT GAVE PHENOMENAL ON CALL OPTION POSITION
HDFC BANK is forming a long inverse pattern which again suggests hdfc looks for greating shorting purpose. Its for learning purpose. But its very likely to fall below to follow and respect the pattern
Dear All At Tradingview ,
I hope you all are learning from my charts .
This time , I have mentioned the reason of fall in Bank Nifty & Why did it rise from Lows of 24240 formed in October .
Answer is ABCD Patterns . Ask any query on comment box or DM me .
Some Basics of ABCD Pattern :
The AB=CD pattern is a 4-point price structure where the initial price...
What is Smart Money and what it does in Markets? The most asked but unanswered question.
In the chart, I have taken a scenario from October big down move and plotted how Money was withdrawn before the devastating move.
Yes - The people who knows when to enter and exit the market - Are SMART, isn't it
SMART people understand the VALUE and Fundamentals to find...
