The Broad Market's Index (Nifty Bank) 08th July'21

Elliot Wave View: Nifty Bank Further Rally Expected

Bank Nifty index shows an incomplete sequence from July 2, 2021 low favouring further upside in the index.Up from July 2, Wave (X) ended at 33908.85 and a pullback in Wave ((w)) ended at 35576.95. Wave(Y) is currently in progress and subdivides into a five waves impulse structure.Short term outlook, as far as pullback stays above 35231, expect index to mover higher.

Key Levels Support : 35369.55, 35231.8

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