BANKNIFTY: Ending diagonal nearing completion.
As I said yesterday, today wave (B) completed. Tomorrow will be a volatile and trending day. Most probably Wave (C) will be completed fully or 70%. When wave (C) completes, wave (5),,C,(B) of higher degrees also will be completed. Once these waves completes, wave(C) of 4 will be commenced. As the ending diagonal has developed as an expanding diagonal the fall will be heavy.
Komentarz:
It seems that wave (iv) has unfolded as zigzag abc. I have posted a new idea.
As per present structure I assume that wave c of wave (B) unfolding as abc, a being yesterday close, b today’s high and c in progress. At note (12:30) wave iv of c is in progress. Probably it will get support at 31550 out at the worst at 31450 and then wave (C) will commence.