Elliot Wave Analysis of #banknifty on multi time frame analysis

Elliot Wave Analysis of #banknifty on multi time frame analysis



#banknifty view on 1 month time frame:- 








At cycle degree on BankNifty 1 M time frame, it looks like wave ((II)) down of an ascending Impulse is underway.

Logical Target:- Green Zone ( 16,453 to 20,512) or 24,570.



#banknifty view on 1 Week time frame:- 





On BankNifty 1 W chart, at the cyclic degree it looks like wave ((II)) down is in progress, which gives a target of 26,913 to 24,365



#banknifty view on 1 Day time frame:- 












There is two possibilities here:-

On the BankNifty 1D chart, at the cyclic degree, it looks like wave ((II)) down is in progress, which gives a target of 23,285 - 27,431.

On the BankNifty 1D chart, at the primary degree, it looks like wave B is up of a zig zag correction, which gives a target of 33,882 to 35,284.






#banknifty view on 1 Hour time frame:- 








On the BankNifty 60 min chart, at the cyclic degree, it looks like wave ((III)) is UP and yet to start, which gives a target of 38,608.

The analysis is invalid if:- 28,995 breaks.






#banknifty view on 15 min time frame:- 






On the BankNifty 15 min chart, at the cyclic degree, wave C of zig zag is UP and yet to start, which gives a target of 32,100 to 32,368

The analysis is invalid if:- 30,893 breaks.






Update:- 24th May'2021 on daily time frame:- 

Wave B target :- 33,882 to 35,284

Wave C target :- 23,285 to 27,431



Update:- 30th Apr'2021 on 1H time frame:- 





Regards,
SG

Connect with me:-

https://in.tradingview.com/u/subhagghosh/

https://twitter.com/GhoshSubhag

http://t.me/bntradingvoice 




































































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