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NSE BANKNIFTY & FINNIFTY – Elliott Wave Projection

Free nse banknifty chart calls

Timeframe: Daily

The bank nifty spot has broken down 10/35/50 Moving average and trading at 100 Exponential moving average that spots weakness. From the low of 44429 to the high of 47363, the ADX of the price fell to 15.92.

According to Elliott Wave, the current structure can be labeled A-B-C correction. It’s acceptable to expect a flat as wave B retraced 78.6%.

Alert bulls! There are only two opportunities:
(1) At the lower band after completion of wave C.
(2) Only after the breakout of wave (B).

Wave C can occur near wave the low of (C). sellers can extend targets after the aggressive breakdown of wave C. If the price is falling and reaching too far from the breakdown place, the move can be reliable as an impulsive.

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Free nse finnifty chart calls

Timeframe: Daily

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Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

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  1. Your analysis has been extremely helpful, and I am definitely considering upgrading to a premium subscription to take advantage of all the additional benefits.

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