Nifty and bank nifty charts

Friends with election results nearing the stock market activity has increased.

Lets see what chart structure shows.

Nifty 

The nifty from top is still a impulse down possibility on as long as 11560+ is held on upside .The red is bear count and bull is green count .Lets see which way market tilts.

Bank nifty.

The bank nifty the overlap is already seen so here the only count for now is abc. Above  29500+ 

banknifty is quite strong .

Lets see how they behave next week :) 

Nifty chart

Nifty wave structure ,Nifty has been trading in a small range for some time,

Thought the move is fast within the range .

Lets see the wave count.

The green one suggests the bull count and the red one is bear count.

Overall the range can hold for max few days range expansion is coming soon.

As long as 11570-60 holds expect nifty to retest today high .

The bearish red count negated if nifty scales new all time high.

Nifty chart update

The move is maturing ,Had posted counts here Nifty chart.

Lets see the current picture.

After 5 down we had a  abc up which retraced near about 78.6% of the fall.

Now the C down is on which can go towards 11520-11500 levels .We would recheck

about any stretch if at all at those levels .

Nifty chart

Nifty looks to have completed a small impulse on upside.

Lets see the chart.

From the top of 11761 ,I can see an impulse down too in small tf .Lets see that chart too.

So looking for a sideways to downward consolidation for some time ,The move can stretch

towards downside if 11550 is taken out in a day . Overall expecting mkt to hold small range for 

few days and by then can figure out correction pattern more clearly.