We managed to capture more than 1400 points of price movement within few days in Bank Nifty using wave theory. Checkout for yourself how we did it here.
The following report was sent to our Financial waves daily report subscribers pre market on 26th April 2021:
Bank Nifty 60 mins chart as of 23rd April 2021:
On the hourly chart Bank Nifty has attempted to move out of the cloud but failed to do so decisively. Post completion of wave g at the lows prices can be moving in form of wave x probably in a Flat pattern. For now we need to see a break below 31350 which is lower end of the cloud and base line for short term down move and breach below 30600 will result into next round of selling. Move above 32150 is must for positivity.
In short, the trend for Bank Nifty is sideways in the range 32150-31350 levels. Break below 31350 will take prices towards 30700 levels whereas move above 32150 can result into a deeper upside pullback.
Bank Nifty 60 mins chart as of 28th April 2021:
Happened as of 26th April 2021:
Bank Nifty broke above 32150 level and as we were expecting a deeper pullback. After the breakout price made a high near 33562 levels! This was possible with the help of wave analysis and using Ichimoku cloud in combination.
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