Nifty Bank Re-visited and Elliott Wave Analysis

 Nifty Bank hourly chart anticipated on 9th July 2021

Nifty Bank hourly chart happened on 29th July 2021

In my previous update dated on 9th July 2021, I had mentioned for Nifty Bank, "Nifty Bank is negatively poised for short term and can test 34000 in couple of trading sessions."

First of all it did not reach the level of 34000 but made a low of 34129 on 29th July 2021. Also it did not falter in couple of sessions as wave B took more time to form than anticipated.

The best part is it did fall near to my mentioned level by forming a flat pattern - Anticipated  Happened

Here is the link of my previous article on Nifty Bank, click on it

Currently prices are moving in a impulsive fahion, which means it is moving in (i-ii-iii-iv-v) waves. As of now it has completed wave iv and has stated wave v which can reach till 36350-36400 levels over short term. The CMP is at 36100 

The summation is Nifty Bank is now in a positive terrain and can soar till 36350-36400 levels over very short term.


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