Is Bank Nifty resuming its Bull Run?

Elliott wave is the GPS of the market that helps to understand the overall maturity of the trend. Elliott wave is a method that is used to identify price pattern and predict market movements. Bank Nifty has been moving precisely as per our Elliott-wave counts.

Novices think of getting at exact lows and getting out at exact highs but expert traders try to capture the best of the 3rd wave and wait like an eagle for that exact moment to catch the prey most of the time.

Below is the chart which shows a detailed path of Bank Nifty which we discussed in our past weekly webinar held on 31^st May 2025 with 1000’s of participants.

Bank Nifty Hourly chart: Anticipated as on 31^st May 2025
Bank Nifty Hourly Chart: Happened as on 10^th June 2025.
Anticipated – Wave 4 recently got completed on the downside in the form of a flat pattern. Post which Wave 5 started to unfold on the upside. We anticipated that internal wave iii of wave 5 has started to unfold on the upside. As wave 5 usually is in equality to wave 1, which derives the target of 57500 levels on the upside.

Happened – Bank Nifty is in sync with our Elliott wave counts. As one can observe, The Index was trading at 55755 levels when we anticipated an up move in the Index and BANG ON!! Prices moved as expected and prices made a high above 57000 levels in today’s session which is nearly a move of 1300 points. As of now, we are in wave iii of wave 5 which is considered the most trending wave according to the guidelines. For now, Index is on the journey to achieve our given target of 57500 levels.

In a nutshell, Bank Nifty is unfolding in the form of wave 5 on the upside. A breach below 55500 can rule out this wave pattern, until then we can expect trending move to continue in the Index.

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