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BANKNIFTY: A Temporary Top for a Zig-zag correcton

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Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Wave Analysis BANKNIFTY bankniftytrend bankniftyanalysis bankniftytrading NIFTY nifty50 sharemarket stocktrading stockmarketanalysis
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trendanalysis waveanalysis banknifty bankniftytrend bankniftyanalysis bankniftytrading nifty nifty50 sharemarket stocktrading stockmarketanalysis
The current fall looks like a five wave structure which suggests that banknifty is preparing itself for a zig-zag correction. One should buy the banknifty on dips for a bounce till 40500-40800 zone & later we can sell with SL of 41800 for downside targets of 38000-37800.
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Manish Bhardwaj (CMT L-1)
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