Nifty Bank Elliott Wave Analysis

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 Nifty Bank hourly chart


As shown in the above hourly chart, Nifty Bank is moving in a range of 2000 points from 36000 to 34000. Recently it faced the resistance of 36000 and today it has shown signs of correction which can drag prices near to the support placed at 34000.

From Waves perspective, prices are moving in a flat pattern where wave a and wave b is over and wave c has started which can go slightly below wave a end placed at 34000. 

The summation is Nifty Bank is negatively poised for short term and can test 34000 in couple of trading sessions.

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