Banknifty Elliott Wave count plotted best to my knowledge.
After Wave iv which is complex correction new leading diagonal wave has been seen.
New impulse should start taking it towards lifetime high.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You...
Wave (4) completed and inner wave for wave (5) formed. It is going to be strong up-trend in this weeks and about to hit new all time high.
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Wave count from Mar'20
Bank Nifty entered in a resistance range of 35036-35185.
Now 34926-34827 is an immediate support range for Bank Nifty and if trades below 34827 then again it will be a negative sign.
Folks,
Shriram Transport may have just completed a Triangle in the form of Wave 4th (Wave count in Blue) and now about to start it's journey for the 5th up, as depicted on the chart.
An easy target could be placed at the 38.2% extension which is at 1750 (and maybe beyond) which is a 25% upside .
A word of advice as always, tread cautiously and work...
After 5th impulse wave, this stock is going for ABC correction wave. Probable tgt: 108
This is my personal view, not a recommendation to trade.
Trade at your own risk.
from wave perspective it is known that 5th wave ending diagonal is in completion,
5th wave is also an truncated wave
breach of channel is in verge
next corrective move could drag index to 30500 (-11%) down wards
disclaimer: I am not holding any position in this index, your profits/ losses are market oriented.I am not abid to your trading position.
The stock is forming a pattern of FLAT CORRECTION and currently is in WAVE- C . One should short the stock on cmp with SL of 840 for tgt of 770-760 zone. As long as stock is below 853 , it is bearish for short term corrective move.
