📊 BANKNIFTY | Elliott Wave Analysis (1H)
BankNifty is currently trading within a strong bullish trend after completing a powerful impulsive advance. The price now appears to be developing an A-B-C corrective Wave (4) inside the highlighted range.
As long as the price holds above the marked support zone, this correction should be considered healthy and may offer a buying opportunity.
A decisive breakout above the B-wave trendline will confirm the completion of Wave (4) and increase the probability of the next impulsive Wave (5), which could drive BankNifty to fresh highs.
Key Levels:
✅ Support: Lower boundary of the Wave (4) zone
✅ Resistance: Descending B-wave trendline
✅ Bullish Trigger: A strong close above the trendline
🎯 Potential Target: Wave (5) extension toward new highs
Disclaimer: This analysis is based on Elliott Wave Theory and should be used for educational purposes only. Always wait for price confirmation and follow proper risk management before taking any trade.
BankNifty is currently trading within a strong bullish trend after completing a powerful impulsive advance. The price now appears to be developing an A-B-C corrective Wave (4) inside the highlighted range.
As long as the price holds above the marked support zone, this correction should be considered healthy and may offer a buying opportunity.
A decisive breakout above the B-wave trendline will confirm the completion of Wave (4) and increase the probability of the next impulsive Wave (5), which could drive BankNifty to fresh highs.
Key Levels:
✅ Support: Lower boundary of the Wave (4) zone
✅ Resistance: Descending B-wave trendline
✅ Bullish Trigger: A strong close above the trendline
🎯 Potential Target: Wave (5) extension toward new highs
Disclaimer: This analysis is based on Elliott Wave Theory and should be used for educational purposes only. Always wait for price confirmation and follow proper risk management before taking any trade.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.