kuruppathsandeep41208

kuruppathsandeep41208

Please see the bank nifty daily chart analysis based on Elliot wave.

kuruppathsandeep41208

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

kuruppathsandeep41208

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.

kuruppathsandeep41208

bank nifty seems to be in its 4th wave of larger digree C and I am expecting a flat correction here, or it can be a six zag , either way one can expect it go beyond todays high

kuruppathsandeep41208 Updated 

BNF is going to touch 29500 for sure in coming days wait for that

kuruppathsandeep41208

BNF MAY SLIGHTLY UP FOR TOMORROW

kuruppathsandeep41208

As per the current movement its seems lile wave 5th of larger digree is just started , and point of invalidation to this projection is 27568

kuruppathsandeep41208

nifty seems to be in the wave second and once it completed the retracement ( 61% or 78%) we can see a strong third wave towards the upside

kuruppathsandeep41208

down trend seems like finished and its time for uptrend.

kuruppathsandeep41208

most probably nifty will go bit more high as per the chart , or it will be a clear case of long 5 wave towards down

kuruppathsandeep41208

nifty is going to be bearish once it crossed 10900 point

kuruppathsandeep41208

Nifty is still seems like bearish, as you can see there are many more legs down pending to change the trend

kuruppathsandeep41208

nifty going to drop from tomorrow onwards

kuruppathsandeep41208

another leg up is possible for USDINR in coming days

kuruppathsandeep41208

There are two different scenario one is yellow in which 5th wave ( upward) movement is still on another one is green line in which 5the is completed and down trend is on

kuruppathsandeep41208

There are two scenario which we can taken into consideration Green- this shows that nifty again will touch 11160 and come down, Yellow: this shows that nifty will not go much higher and then come down. lets see which one will work

kuruppathsandeep41208

Since it cross the 50 of retracement its clear that down trend is starting,

kuruppathsandeep41208

as per my view there are two scenario one is Yellow view , as per this there are two more wave up to finish the impulse and then the down trend and the second scenario is green one as per this view impulse is almost finished in just one more up side wave, after that down trend will follow for atleast some more time