Bank Nifty (Neowave Update)Degree full forms-
L1 stand for Long term wave 1 and so on
M1 stand for Medium term wave 1 and so on
S1 stand for short term wave 1 and so on
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Welcome to Trading Idea, This is a short term forecast but trade always in direction of bigger cycles.
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Note-
## After this another resistance level is 45748.50 for confirmation of break out.
If price break again before breaking 45748.50 than SC2 is still developing using X wave otherwise we are in SC3 wave
Medium Term Forecast-
Ellitottwave
DOW JONES: A leading diagonalIndex is unfolding as a leading diagonal of which 4th wave is already concluded and right now we are into the last stages to complete the 5th wave of this leading diagonal which will bring the index below the level of 30635 in the near term. Traders should remain short for the minimum target region of 30600-30000 in the coming weeks with stop loss of 32600.