Nifty vs Banknifty

Banknifty

Banknifty almost retraced  61.8% compare to nifty.

and Nifty retraced only 38.2% of impulse.

Advance of next rally will Hit new high in nifty early as compared to Banknifty.

  

                                                                              Nifty

Nifty Elliott Wave

Elliott wave setup is set for next trend.
We have clear 5 wave up (motive wave) and followed by 3 corrective wave (a-b-c).
Wave b at 6063 shows clear breakout and confirming next wave up in 5 wave.
Invalidation to our wave count  at 6030.
probability of flat variation in alternative wave count for counter trend.(Invalidation to next wave degree at 5984).Refer last post and continue reading above wave notes.

* no alternative wave has been displayed only after invalidation point.

Nifty Elliott Wave

Preferred Wave Count- A-B-C (zigzag).After completing zigzag wave 5 of 5 (in one large degree of wave count) Truncated. current wave count  Invalidation below 5984.
Current trend up

*no alternative count has been displayed only after invalidation point.

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