Bank Nifty completed its five-wave rise with Wave 5 ending exactly at the 100% Fibonacci extension of Wave 1, a classic termination level when Wave 3 is extended.
Inside this zone, price printed a Hanging Man followed by a bearish confirmation candle. The confirmation is not strong, but together with the Fibonacci symmetry at the Wave-5 target, it reflects clear exhaustion.
A corrective phase from this region is reasonable.
A strong reclaim above the recent high would invalidate the exhaustion and reopen the upside.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Inside this zone, price printed a Hanging Man followed by a bearish confirmation candle. The confirmation is not strong, but together with the Fibonacci symmetry at the Wave-5 target, it reflects clear exhaustion.
A corrective phase from this region is reasonable.
A strong reclaim above the recent high would invalidate the exhaustion and reopen the upside.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
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📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.