Bank Nifty has completed the wave 3 and expecting it to be bullish on monday as the wave 4 began.... expecting a reversal around 33500 region...
exact reversal point will be identified as the wave continues...
this analysis is just for educational purposes
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In 30min chart of bank nifty wave (i), (ii) and (iii) is completed at 31630, 31232 and 37708 respectively and wave (iv) is either completed at 35584 or complete in 35584-35234 range. wave (v) is still pending above 37708.
36180-35234 support range and BN is negative only below 35234.
Bank nifty retraced in 23%-38% range with corrective pattern.
It seems wave iv is completed at 30893 and projection of wave v is coming at 31861-32459.
Negative only if trades below 30721.
