I am new to this platform. Kindly bear with me if I have used wrong symbols or colors.
So what I am trying to use, is the basic philosophy behind Elliot Waves. They are FRACTAL.
I have shown 5-3 wave sequences and followed them to 1m scale.
So what I am trying to use, is the basic philosophy behind Elliot Waves. They are FRACTAL.
I have shown 5-3 wave sequences and followed them to 1m scale.
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BankNifty looking to test the support zone shown and then should get that huge push it needs to throttle up close to 25600-26000 Range
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Currently it is close to 24800. This support zone is important. If the bulls can hold off this range and prevent BankNifty from falling down to or below 24780-24760, then a small upward trend may start. If that breaks through 25200-25600, then we may see higher levels.
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If you see graph now Banknifty has indeed bounced bank from the zone I mentioned in the last comment on 25th Of April.
We are close to the second zone I mentioned(25600). It will get good buy support if it crosses the 25600-25800 mark. If the bears are strong here, price may retrace down below 25000.
We are close to the second zone I mentioned(25600). It will get good buy support if it crosses the 25600-25800 mark. If the bears are strong here, price may retrace down below 25000.