Bank Nifty Intraday (10-08-2023)Hello Everyone
This is an update from our previous forecast and currently we are making a correction of wave-4 which is an flat structure. In which we have completed ((a)) and ((b)) and progressing for wave((c)). After this bank nifty should fall.
Originally we forecast this
In this below we have indicated that we are in currently wave D and than we will go for wave.
After this as wave D is going to divide itself in an internal structure of smaller wave. We updated our further forecast
So this is how an wave structure follow.
Thank You
Wavestructure
SBIN update- formation of a wedgeSBIN has just missed its 4th wave by 4 points to make its ED or wedge invalid. So, till now, it is safe to say SBIN will move towards 313/15 in three wave move for a fall. This will be again invalid if it moves further 316, but still it will be a reversal point for another two reasons=
1. Formation of a triangle
2. Major support at 315/16 level