#BANKNIFTY #ElliotWave Analysis.#BANKNIFTY #ElliotWave Analysis.
On larger time frame:- The Wave 5 is expected by Feb end 2021
Wave 1 :- 16,116 to 21,967
Wave 2 :- 21,967 to 17,105
Wave 3 :- 17,105 to 25,232
Wave 4 :- 25,232 to 20,405
Wave 5 :- 20,405 to 30,834 (61.8 % of total move till wave 3) / to 32,362 (78.6 % of total move till wave 3) / 34,309 (100 % of total move till wave 3)
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Just go with the flow and try to encash as much move as possible.
Note:- This view is on larger TF and is for a month or so.
Regards,
SG
