Banknifty - Elliott Wave Update

by Dean Market Profile on Monday, September 03, 2012 in Banknifty, Elliott Wave, Indices, Updates

Hourly Chart

Banknifty is falling impulsively, in wave [c] of II?. This is our preferred count so far. The wave (4) is taking a shape of a triangular correction. It alternates well with a zigzag in wave (2) of [c] previously. Once these waves (4) and (5) are done, we might resume the up trend. I am looking for support in the 9900-9675 zone.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Monday, September 03, 2012

Banknifty - Elliott Wave Update

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