Projected the possible movement for 11-17 Jun week. Banknifty Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
I expected wB of 2 was in progress but there was some mistakes in wave decoding. Its not wB, it is w3. Banknifty revised wave count Nifty current correction wave count Banknifty current correction wave count Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Wave B of (2) completed. Wave C of (2) started its journey. Invalidate level: Nifty 15700 and Banknifty 35480 Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions. Banknifty update:
Final part of up-move is in progress from day low. It is an impulse and wave 1 2 completed and wave 3 is in progress. Once this impulse completes, wave B of (2) also will be completing. After then, we can expect good fall for wave C of (2). BankNifty update: Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking...
Wave (2) is still in progress and wave B is about to complete in 1-2 days. Banknifty update:
My previous analysis is still valid. Just the correction is being extended. Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Tomorrow it may open above today's high and resistance can force the price down towards 15100 level. Banknifty update:
After wave (y) completed, wave (x) is in progress. There is possibility for 200 pts fall tomorrow and then again 200-300 pts upmove. Banknifty update:
Wave B/X is about to complete. Once completes, there can be small pause for up-trend and fall for 600-800 pts possible. All these developments are part fo wave (2). Banknifty update:
Wave B/X is being extended and still pending. An impulse (wave A) is completed in wave (y) of (X) and correction is in progress. Wave C of wave (y) of (X) is pending. Banknifty update:
The up-move is about to complete where wave B/X of (2) is completing. Next it can fall to complete wave (2). Banknifty update:
I tried to give higher probability for coming 2-3 days based on Nifty and Banknifty's the current wave development. Banknifty's detail:
Wave (2) is in progress and there are possibilities that which inner wave is in progress - either wave C of (2) or wave B of (2). Once wave (2) completes, there will be strong up-trend but if current wave is wave B of (2) it may take some time for wave (2) to be completed.
At present wave B of (2) is in progress. Fall to 14416 ends the wave (2). If there is any up-move from here, it will be part of wave b of B of (2) and may test 14970 level.
An impulse from 22nd April is completed and correction is in progress. Detailed wave count from 14966 :
Did some chances from my previous analysis. It is an impulse as wave5 from 19th April and inner wave 1 completed and inner wave 2 is in progress. Detailed wave count for fall from 33297 level:
As mentioned in my previous analysis, an impulse is in progress from 3rd May and wave (3) completed yesterday. Now inner wave (4) is going on.
Even though wave development is very slow, all formation clearly signals up-trend. If current development (inner wave 3 of (5)) is leading diagonal, it will range-bound for another 2-3 days and then strong up-trend.