Nifty and Bank Nifty: Anticipated Happened and Wave forecasting.
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcVB7QGAN5kQnWzPWaXUdp-aCc2mLGpK8AlI-nnKJyWpv5fgVMFEiDQYQerQYj7dq_yUucTfV9I-3QBRm2mWCCWJXJZc4lSiwTRo46zzM8OZa332zdEQ6Aq00S4u1KoFsKB94C2ZpCVF0R/s1600/Nifty60.png)
In my previous update dated 15 th October 2015 “ Nifty in an expanding triangle ” followed by “ Nifty on brink to reverse ” dated 24 th October 2015 and “ Nifty to sink after confirmation ” dated 11 th November 2015, I mentioned that Nifty will moved down to test the level of 7500 followed by 7200. In the early January 2016 Nifty made a low of 7240 thus achieving my mention levels of 7500-7200 levels. Even for Bank Nifty, my view was negative. I had mentioned that “ any move below 17430 will open negative possibilities for this index which can drag prices near till 15550 levels ” on 24 th October 2015. Bank Nifty made a low of 14754 levels on 20 th January 2016, thus achieving our mentioned level of 15550. The broader index fell to almost 8% this year and it seems that the worst is here to stay. However, there can be a reversal for both the indices over short term. As we are aware that both the indices are moving in a declining channel, forming a lower high