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#banknifty analysis on hourly time frame:-
Laxman Rekha 41,840 (above positive and below negative)
Friday DOJI on Daily timeframe on multi-year breakout 41,840, showing bulls are not confident on breakout and bears doesn't have the conviction to short.
#banknifty:- Looks live wave 4 is in progress (correction), once we get a breakout, we are heading towards 42,800 levels.
The first sign of weakness will be visible below 40,610, till then we are consolidating & breakout chances are higher.
#elliottwave#elliottwaves#nifty
#banknifty weekly TF analysis:-
Let me post what exactly I am seeing on Weekly Chart:- We have come out of triple combo complex correction of the 4th wave and currently, the 5th wave is running, the bare min target of this wave is 47,570 and the invalidation level is 32,290.
#banknifty should be heading towards 41000/42000 till holding 38000
By Diwali ๐ฉ
#astrology#Elliottwave#nifty
Mercury retrograde over โ๏ธ
If u agree RT ๐
If u don't, then comment.
Why do I say this?
Why I said? we might see top today as #gann 15 & 18.75 degrees, as these areas are big supply areas on the chart.
I did combine #gann, #priceaction, and #Elliottwave to come to the conclusion, that there might be selling pressure.
#shareandcare#banknifty