Going Short on Banking Stocks? Elliotical Approach to BankNifty.Hello Traders!
1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020.
2. We see a clear zigzag correction for Wave a, marked with red ABC.
3. We see a 3-wave Wave b . The count of wave C of this wave is being shared here for clarity.
4.The most expected target for BankNifty should be around 30500 . This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle fall
Short
