Nifty Bank: Anticipated Happened and Alternate Wave Count

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 Nifty Bank daily chart anticipated on 4th August 2020

Nifty Bank hourly chart happened on 26th August 2020

In my previous update on Nifty Bank, I had mentioned that, "Nifty Bank can reach till 23300 levels which will be immediate resistance with support at 21000 (closing basis)."

Today, the index surpassed this level thus achieving the 23300- Anticipated Happened.

Here is the link on my article on Nifty Bank click on it

https://www.marketanalysiswithmeghmody.com/2020/08/nifty-bank-elliott-wave-analysis.html

I have opened another possibility for this index as earlier I was thinking as (a-b-c-x-a-b-c) but I had also opened wave x/b in my previous article. This means that wave c on the upside was pending and so as wave a after wave x. So here wave c is quite likely as the structure looks impulsive and can move up above 25000 in coming weeks.

The summation is as far as 22500 is intact on the downside, prices are likely to reach till 25300 levels in near term.

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Comments

Phani Kumar said…
This Information is really good and informative. Thanks for it.
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Veer Global IPO
15 October 2020 at 16:00
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