Bank Nifty: Anticipated Happened and Elliott Wave Analysis

 Bank Nifty hourly chart anticipated on 9th March 2022

Bank Nifty hourly chart happened on 1st April 2022

In my previous update on Bank Nifty, I had mentioned, "Nifty Bank is positively poised and can move higher from current levels towards 37000-37300 over short term."

On 1st April Nifty Bank made a high close to 37200 levels thereby achieving my above mentioned range/level - Anticipated Happened

To view my previous article on Bank Nifty, click on the link below

The index after giving a bullish break in a small falling channel, it started moving higher in a higher highs and higher lows and also arriving near to crucial resistance of the big falling channel. I think prices can move tad higher from here to test the resistance zone.

As per Wave theory, prices are moving in wave x, there is a high possibility prices will move close to 37500-37650 levels over very short term which will complete wave x. I will continue to monitor the current wave and how it unfolds and will update my readers timely.

The summation is Nifty Bank will continue to move higher close to 37500-37650 levels over very short term.


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