Please go through the Elliott wave monthly chart of Banknifty .
Observation:
1. We are in 4th corrective wave of higher degree.
2. We have completed (A) wave of correction after wave 3.
4. We are in wave (B) of correction, it might be creating an expanding flat (in which it go beyond the start of (A)).
5. When C will start no one will have time to liquidate their stocks and a big fall can come after achieving ATH in Banknifty.
6. (A) wave had achieved 23.6% of the 3rd wave and C may or may not achieve the 38.2 % of wave 3.
7. Long may be initiated with hedging 1 fut long=2 put long (saving in margin and losses)
8. An expanding flat can move further our targets....!
Regards
Thank you
Observation:
1. We are in 4th corrective wave of higher degree.
2. We have completed (A) wave of correction after wave 3.
4. We are in wave (B) of correction, it might be creating an expanding flat (in which it go beyond the start of (A)).
5. When C will start no one will have time to liquidate their stocks and a big fall can come after achieving ATH in Banknifty.
6. (A) wave had achieved 23.6% of the 3rd wave and C may or may not achieve the 38.2 % of wave 3.
7. Long may be initiated with hedging 1 fut long=2 put long (saving in margin and losses)
8. An expanding flat can move further our targets....!
Regards
Thank you