Bank Nifty: Anticipated Happened and Elliott Wave Analysis

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 Bank Nifty hourly chart anticipated on 9th March 2022


Bank Nifty hourly chart happened on 1st April 2022


In my previous update on Bank Nifty, I had mentioned, "Nifty Bank is positively poised and can move higher from current levels towards 37000-37300 over short term."

On 1st April Nifty Bank made a high close to 37200 levels thereby achieving my above mentioned range/level - Anticipated Happened

To view my previous article on Bank Nifty, click on the link below

https://www.marketanalysiswithmeghmody.com/2022/03/bank-nifty-neo-wave-extracting-triangle.html

The index after giving a bullish break in a small falling channel, it started moving higher in a higher highs and higher lows and also arriving near to crucial resistance of the big falling channel. I think prices can move tad higher from here to test the resistance zone.

As per Wave theory, prices are moving in wave x, there is a high possibility prices will move close to 37500-37650 levels over very short term which will complete wave x. I will continue to monitor the current wave and how it unfolds and will update my readers timely.

The summation is Nifty Bank will continue to move higher close to 37500-37650 levels over very short term.

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