Elliott wave analysis # fall on the card ??

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 trading decisions.

Commento:

Now wave v of 5 from day low is in progress. Last up-leg of this upmove.

Commento:

Looks like maybe still wave iv of 5 is in progress

Commento:

if so, day low will be broken

Commento:

Wave B of (2) is completing here

Commento:

Today high in both Nifty and Banknifty is invalidate level for SHORT.

Commento:

Today top is little bit complex. Wave 5 completed at 15734 and 35811. Fall from there is impulse so further fall confirmed.

Target 1: 15250 and 33800
Target 2: 15000 and 33300

Invalidate level for short: 15734 and 35811