NiftyPsubank Elliot wave analysis

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NIFTYPSUBANK @ 6194 UPDATE
The recent correction in the NIFTY PSUBANK index I m marking as wave-4 pull back & which is nearly completed at recent low of 5866 or it might complete around 5500—5600 zone & anywhere from this zone it should head higher in wave-5 for minimum 9096 to 9924 & maximum 12600 which is 100% fib extension level & also rising channel upside band is coming around that zone. 

So keep eye on NIFTY PSU BANK STOCK to start investing to play the wave-5th up move.

NOTE: THIS CURRENT PROJECTION IS IN ASSUMPTION THAT NIFTY PSUBANK INDEX MAY HOLD 5600—5500 SPOT LEVELS ON MONTHLY CLOSING BASIS AND IT MAY MOVE HIGHER. BUT BY CHANCE IF NFITY PSUBANK INDEX BREAKS 5600—5500 SPOT LEVELS THEN WILL HAVE TO RE CHECK THE WAVE FORMATION & IN THAT CASE THIS VIEW FOR 9924 TO 12600 RALLY FAILS.

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