Bank Nifty : Elliott Strucutre

19. Mai 2020

It seems on a daily we have completed Wave 4, the internal structure of which we have tried to analyse here in 60 mins chart. We can see clear ABC structure which was Zigzag (5-3-5). On completion of Wave 4 on a daily or ABC on 60 mins chart it seems we have completed Wave 1 of the 5th on a daily. Also the current retracement is around 0.786 where we can see the double bottom type formation also. '
So looks we may bounce towards Wave (4) of current impulse.