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Bank Nifty EOD Jan 18 Update

Bank Nifty today crossed 19200 and made high of 19276 and sharply came down.
Hourly chart shows possibility of completion of wave (C) post Up move from bottom of 17607. If wave (C) is completed at 19276, then we may see move towards 19000/18800. Bank Nifty is still holding support of Middle BB line as well as RSI 59 level on hourly chart though RSI is started showing divergence. Confirmation of down move if it brakes middle BB line and RSI 59 level decisively.

Other possibility is wave v(Red color) of (C) forming ED as shown in 15 min chart:
If it is forming ED then probably wave (iv) (blue color) is in progress and tomorrow wave (v) may complete.
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