Bank Nifty completed its five-wave rise with Wave 5 ending exactly at the 100% Fibonacci extension of Wave 1, a classic termination level when Wave 3 is extended.
Inside this zone, price printed a Hanging Man followed by a bearish confirmation candle. The confirmation is not strong, but together with the Fibonacci symmetry at the Wave-5 target, it reflects clear exhaustion.
A corrective phase from this region is reasonable.
A strong reclaim above the recent high would invalidate the exhaustion and reopen the upside.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Inside this zone, price printed a Hanging Man followed by a bearish confirmation candle. The confirmation is not strong, but together with the Fibonacci symmetry at the Wave-5 target, it reflects clear exhaustion.
A corrective phase from this region is reasonable.
A strong reclaim above the recent high would invalidate the exhaustion and reopen the upside.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Penerbitan berkaitan
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Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.