Bank Nifty as I see it from a Medium 2-4 months point of view..... Its a little Precarious as I plot the wave counts.....Wave 4 is in play currently and will catch everyone off guard. But this will be the LAST WAVE DOWN....... There is going to be a MOVE which people have NOT SEEN BEFORE.... It will catch everyone off guard. 9 out of 10 will MISS IT
The ONLY way I would probably go WRONG is the EXPIRY PLAY...... but I have plotted exactly as I see it happening on NF
I have never done this here..... but I guess sometimes you just have to..... Plotting the BNF chart on a """ 15 tf"".... and how I think it will play out on Monday/Tuesday. BTW..... BNF adjusted some 40-50 points higher... I probably had the wrong figures
There is Soooooooooo Much Pessimism in the Markets... that there is probably 100x more shorts in the system than there is Longs.... Each n Every day now we hear either of a HINDENBERG Report or another Bank going down... Well..... I do not need to REMIND anyone here about the OUTCOME which followed COVID/UKRAINE WAR/now SVB and other banks( ALL ULTRA PESSIMISM )....
I need to clarify Something here and now. In as much as I am calling out for a Bottom...... Something happened to the OPEN INTEREST on the Indices. We have an """" INTER MARKET DIVERGENCE"""...... Meaning that 1 Indice has Longs Built up in the system while the Other has Shorts. Todays close has changed something....... NF has some amount of Longs and hence post...
The Likely path of Nifty in the Very Short term..... I have gone to the extent of calculating the Retracements etc and handed it over to you all on a Platter. DO NOT be exactly specific on the FIGURES I have given you all..... This is the """ LIKELY"""" REtracement/ wave Count Lengths
Everything is Crystal Clear if you are able to count the wave structures..... There is No ELEMENT of Doubt at all ... No GUESS work... No IF AND or BUTS. Bank NIfty as I see it
Nothing has changed on the DOW counts ... So dont panic..... we are still on course for 38000 with time on a weekly basis. ONLY 1 ALTERNATE counts exists.... let it play out 1st to a degree where I have to warn you all again.... but for now.... NO..... Remember the Larger the DEGREE of the WAVE, the MORE time it takes to play out. So NOTHING happens immediately
I deliberately have posted ONLY WEEKLY @ Medium term charts because hourly/ daily charts will create a Lot of Noise and Cause confusion/Panic amongst the Community ......