Bank Nifty Analysis

Bank Nifty Analysis. As on Monday, 1 March 2021. CMP 35,360. Posted at 12 noon.

Bank Nifty is a tough call at this stage.  Both counts are possible, though we are tilting more towards count 2.


Count 1 : Another high to come in Bank Nifty.  This current decline appears to be wave 4 of micro degree.  Price needs to find its footing from current levels and begin a rally to new highs above 37,700.

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Count 2 : This count is more in line with Nifty. This shows a wave 3 top already in place at 37,708, and price is in a 4th wave down to the 30,000 ~ 32,000 level.