BankNifty having many internal waves: projection shows 29350 min
Bank Nifty is having many internal waves (the count may be required to change).
By the wave personalities and positions,assuming the current move as a wave in intermediate degree,
it has to make a move towards 24777 minimum , and a 127% of its higher degree need to go around 29350.
a 100% Fibonacci projection is marked in blue labels, but the hypothesis shows,
it has to move much more as per the classic Elliot rules.
A 127% projection (blue)of wave 1 = 29358 must reach minimum.
So assuming a value near to this.
But couldn’t find an equivalent value in wave 2 extension group (pink).
161.8% projection of wave is 29707
Wave extensions in green can go anything above 24777 ie: greater than 100%of wave
By the wave personalities and positions,assuming the current move as a wave in intermediate degree,
it has to make a move towards 24777 minimum , and a 127% of its higher degree need to go around 29350.
it has to move much more as per the classic Elliot rules.
A 127% projection (blue)of wave 1 = 29358 must reach minimum.
So assuming a value near to this.
But couldn’t find an equivalent value in wave 2 extension group (pink).
161.8% projection of wave is 29707
Wave extensions in green can go anything above 24777 ie: greater than 100%of wave