Monday, March 28, 2011

Bank Nifty Weekly : Elliott Wave Analysis

In continuation with my yesterday's post, here the analysis for Bank Nifty,

The move down on the bank nifty from Nov 2010 was steep, but the waves were too inter-tangled to get an impulse down, hence I am now thinking the move down was rather an ABC-X-ABC-X-ABC (triple combination).

Here is the EOD and the Weekly chart on Bank Nifty

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

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