BankNifty Elliot wave counts - Chart says everything
As per wave structure, currently we are forming pattern as a W-X-Y, in which we have already completed W and we have also completed 1st sub-division of X as a wave W of X and possibly now we are going to unfold X of wave X (X inside X).
As per Fibonacci retracements it can retrace 0.382% to 0.50% as per healthy retracement which are measurement of wave (w) of X, and retracement levels are pegged at 34300 to 33900, co-incidentally 100 ema and 200 ema of same time frame are also pegged at same areas.
Everything as per study is shared and mentioned on chart, chart says everything, so go through it.
Once this support line is gone on 15 min chart, then we can say it has triggered.
Also this a neckline on head and shoulder pattern on 15 min time frame
RK's sell signal is activated in 15 min chart
Bearish Divergence with RSI and MACD on 15 min chart
ema 50, 100, and 200 on hourly chart can provide support
macd turned negative in hourly time frame
Histogram is decreasing on daily chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
As per Fibonacci retracements it can retrace 0.382% to 0.50% as per healthy retracement which are measurement of wave (w) of X, and retracement levels are pegged at 34300 to 33900, co-incidentally 100 ema and 200 ema of same time frame are also pegged at same areas.
Everything as per study is shared and mentioned on chart, chart says everything, so go through it.
Once this support line is gone on 15 min chart, then we can say it has triggered.
Also this a neckline on head and shoulder pattern on 15 min time frame
RK's sell signal is activated in 15 min chart
Bearish Divergence with RSI and MACD on 15 min chart
ema 50, 100, and 200 on hourly chart can provide support
macd turned negative in hourly time frame
Histogram is decreasing on daily chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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