Here’s the wave count for Bank Nifty on weekly chart.
There can be alternate views wrt EW also as EW is an art rather than science (that’s why there’re no successful algorithm for wave counting).
For example, we can count the last rise as an ongoing impulse move ( as per this it is in ivth and Vth is yet to start on upside…and if this happens, we might turn bullish)
Views keep changing as the new data emerges ,same like when we analyse a company on fundamental basis.Hope it helps.
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