good sell signal in short term only it will restest the trendline bottom likely to buy from there so as of now short term sell
Trendline and support area nearing. short term sell adn correction soon up trend will resume
Please see 9th set up of bank nifty...
as you can see a small upward movement then a down fall can expect tomorrow.
looking at bank nifty its unclear that whether the rides of bull is over or yet to finish, I marked two lines to determine the confirmation whether it is a bull or bear
as you can see a complex correction visible in bank nifty in its 4 the wave, only think we can do is to buy from the most appropriate area where our loss would be minimal even if it goese against our prediction one can buy if price comes to the green area and the SL would be where the green area finish
as per the calculation there are still energy with bulls to ride more, and if price go above certain point then its clear case of indication real BULL run is yet to come
IF Price goese above the blue line then this is a clear bullish sign
Bank nifty seems to be bullish for some time if my marking goese right then it would be bullish for at least some more time
its quit unclear that what would be the BNF next move, if the price goese below the green line then down trend is confirmed
BNF is about start its 5th leg of C wave (zixzag), HENCE we can expect some high in coming days
As I mentioned in my previous post BNF is still up for some more time
Please see the bank nifty daily chart analysis based on Elliot wave.
Here I am trying to draw bank nifty weekly chart path from its origin by using elliottwave analysis. one can expand the chart for getting correct view of all the labelling please like my share if you find it intresting
BNF can go bit higher then a deep down trend can be expected unless it cross the Green line, if it cross the Green line then it means the current calculations is wrong and up trend is just begun.