As the chart shows, Banknifty is breaking upward in a rally as it is moving out of its downward Wedge - The Wedge is a Diagonal Triangle in Elliotwave parlance. When a correction start with a diagonal triangle, it cannot be a full correction - it is only par of it . We are now in a B wave rally of a larger A-B-C correction. One can expect a surge into the...
If bank nifty opens flat or -, this can give us an immediate sell of even till 32000. I am expecting a recovery in Indices by end of the day as everyone plans for the result season.
Markets will have to be analyzed in a live session as we are coming after a weekend. Overall there is negative sentiment in India due to the Covid-19 surge and 1,50,000+ cases daily....
