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    Nifty Bank Weekly

    Hazarding to present segmental Weekly chart of Nifty Bank wave counts from August 2013 lows:

    1st leg of wave 1 is a leading diagonal.

    Wave 1 an impulse retraced exactly 61.8% with (ii) and (iv) of Wave 1 alternating.

    Internal counts of Wave 3 or i of 3 (150% extension of Wave 1) are also adhering to EW impulse rules with alternating correctives.

    Wave 4 or  ii of 3 looks like an irregular wave. If it is Wave 4, then 38.2% retracement target comes to 24,900 or time wise end August 2022.

    Jupiter/Saturn 20 year synodic cycle ends 21/12/2020 which is historically a good top out for Dow Jones Index.

    #198725 Reply
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    Ashish Kyal, CMT

    Great to see the combination of Elliott wave with other methods…

    #198813 Reply

    D Roy

    Next week target 31735-40 on spot

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