banknifty trapped all the buyers except the ones from tuesday. Those who bought at 43900 level is pending. Once it eliminate the buyers at 43900 then it can trap the sellers as SL is available upto 44450 level.
OR
it can first trap the sellers upto 44450 level and then trap the all buyers upto 43888 level
As the Nifty have completed the A wave expecting B wave to start the progress.
B wave may end round 18180...
as the B wave completes we can expect the fall again...
This analysis is just for Educational purposes
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If we are right at identifying pattern then Banknifty should retrace from wave (4) in 30907-30628 range without breaking above 31454.
And 30907-30628 is also support range.
NIfty And Bank Nifty Elliott wave analysis in hindi. If you are not comfortable with hindi then kindly read important points mentioned in charts.
Thanks for watching
30511-30251 is support range for Bank Nifty and will consider negative only if trades below 30251.
wave 5 projection from 30374 is coming at 31145-31619 range.
In Bank nifty 30min chart from 28923 wave (i), (ii), (iii) and (iv) is completed and wave (v) is started from 30328.
31049-31495 is the projection range for wave (v) and 30419-30176 is support range.
Bank nifty if trades below 30176 then only negative.
