MAFANG ETF BULLISHMAFANG ETF BULLISH
forming classic elliott wave
In it's 4th wave
Anytime from now it will make 5th wave
More than 15% move may go upto 50%
Let's see.
Elliot-wave
YESBANK: As I said nearing second bottomWhen I posted a chart on YESBANK on 17-11-19, the price was 68.70.
I said that YESBANK will form triple bottom. Now it has came all the way down to 40 to find the second bottom. CMP - 43.55. The stock price is not yet out of woods. Chances for some 3 rupees up (47) and then 8 to 10 rupees down(36-38). If it goes up from this level or after finding bottom at around 36 it will move up to 80-100 rupees and then come down to form the third bottom. This is according to my EW knowledge and labelling. Do your own analyses based on price action and act accordingly.
BANKNIFTY: The power of ending diagonalThough I predicted earlier 31000 as bottom of wave (IV), had I not missed the ending diagonal of lower degree of wave v (marked as a wedge) of wave (IV) in lower TF, I wold have predicted end of wave (IV) correctly. The power of ending diagonal is evident from the 1000 point movement in a span of 2 days and less than an hour.
Wave (V) will be formed in 3 i.e.,(A),(B) and (C). Now wave (A) in progress. There may be another 200 points movement to complete wave (A). Then move down to 31800 level to form wave (B).
Actually wave (the breaker represents circle in my previous charts), is unfolding as an expanded ending diagonal, which is more powerful than converging diagonal.
BANKNIFTY: Ending diagonal nearing completion.As I said yesterday, today wave (B) completed. Tomorrow will be a volatile and trending day. Most probably Wave (C) will be completed fully or 70%. When wave (C) completes, wave (5), ,C,(B) of higher degrees also will be completed. Once these waves completes, wave(C) of 4 will be commenced. As the ending diagonal has developed as an expanding diagonal the fall will be heavy.
