Bank Nifty Elliott Wave possibilitiesThe idea presents two possibilities on Bank Nifty as follows:
1. corrective move: this suggests that bank nifty is moving down in a double zig-zag pattern where the index is currently in wave b of wave y. post which the index should head higher in at least three waves if not five.
2. Impulsive move: this suggest that index is heading down in an impulsive manner which is shown as an alternate count in green colour. The index seems to be in wave 4 of wave 1 or wave a (that remains to be seen).
Whatever view plays out, I will update the idea accordingly
Summary: both the possibilities suggest a down move in the near future.
Thanks for reading :)
