Happy Diwali...!!

May your Diwali be full of light

Wishing you and your family many new

beginnings on this Diwali.

Probable Banknifty EW Bearish counts contd...

Banknifty found resistance around 19881 (mentioned in last post) and "Sell on rises" worked well.

It seems wave 3 is unfolding with sub waves. 19374, 19244, 19044 are likely supports of last retracement.

Lets see how it unfolds...

Probable Banknifty EW Bearish counts

It seems inner and higher 5s are done around 19923. Any upmove above it invalidate current counts and would require a re calculation. 

However current conditions are suggesting a "Sell on rises" and holding 19712 resistances would be 19793, 19818, 19842, 19881.

Lets see how it unfolds...

Probable Banknifty EW Bullish counts contd...

Banknifty wave 4 correted up to 23% and started unfolding wave 5 now. It seems wave 5.iii already completed and wave 5.iv is unfolding.

Lets see how it unfolds...