Bank Nifty Elliott Wave with Time Cycles on 15 MinutesMar 09, 2022
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Nifty and Bank Nifty are moving sharply on either side. Elliott wave and Time cycles are working very well and helping to capture important lows with Elliott wave pattern.
Below is the chart of Bank Nifty along with 89 period Time cycles and prices formed a low precisely on the cycle period as expected and reversed back on the upside.
Bank Nifty 15 minutes chart:
Elliott wave and Time cycles - Bank Nifty after forming a top near 39000 moved lower in the form of Diametric pattern. The current ongoing move is working precisely as per the 89 period Time cycles. This time cycle was discussed during the webinar on 5th March 2022 and we even forecasted for prices to bottom out on Tuesday morning in Bank Nifty which happened to the very hour. This is the power of knowing the Time cycles.
As seen from the chart the current rise looks to be in the form of wave f and post its completion we can see a dip again in the form of wave g. The channel resistance is near 33800 – 34000 levels on Bank Nifty and so crossing it is not going to be easy.
Thus by understanding Elliott wave pattern and knowing the Time of reversal one can trade extremely well without getting lost in the news or events.
Next important date for Bank Nifty is near 14th March. The exact time of reversal we will be deriving it together in the upcoming free webinar on trading using Candlesticks and Time cycle on 12th March, morning 11am. Register here for the free webinar
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