{"symbol":"BANKNIFTY","slug":"banknifty","name":"NIFTY Bank","group":"World indices","asof":"2026-11-06","price":59086,"scale":"log","headline":"primary ((5)) of cycle V under way from 49,954.85","trend":"up","swing":"up","invalidation":49954.85,"call":{"status":"held","previous":"2026-11-05"},"main":{"summary":"primary ((5)) of cycle V under way from 49,954.85","structure":"","next":"minute iii toward 59,307.51-61,073.38; minor 3 toward 59,643.31, intermediate (3) toward 60,709.66, cycle V toward 64,685.75-66,209.14","window":null,"invalid_if":{"price":49954.85,"direction":"below"}},"levels":[{"timeframe":"Monthly","degree":"Cycle","direction":"up","wave":"cycle V up from ₹16,116.25 (2020-03), in progress","target":{"low":64685.75,"high":66209.14},"invalidation":16116.25,"window":{"from":"2028-03-01","to":"2033-02-08","likely_from":null,"likely_to":null}},{"timeframe":"Weekly","degree":"Primary","direction":"up","wave":"primary ((5)) of V up from ₹49,954.85 (2026-03-30 week)","target":{"low":83457.63,"high":90066.95},"invalidation":49954.85,"window":{"from":"2026-11-04","to":"2032-07-26","likely_from":"2027-03-19","likely_to":"2028-10-13"}},{"timeframe":"Daily","degree":"Intermediate","direction":"up","wave":"intermediate (3) of ((5)) up from ₹52,783.45 (2026-05-18)","target":{"low":60709.66,"high":66192.3},"invalidation":52783.45,"window":null},{"timeframe":"Hourly","degree":"Minor","direction":"up","wave":"minor 3 of (3) up from ₹53,626.15 (2026-10-28 09:15 IST)","target":{"low":59643.31,"high":63694.82},"invalidation":53626.15,"window":{"from":"2026-11-11","to":"2027-05-19","likely_from":"2026-12-05","likely_to":"2027-01-18"}},{"timeframe":"15-minute","degree":"Minute","direction":"up","wave":"minute iii of minor 3 up from ₹54,582.00 (2026-11-02 13:30 IST), in progress","target":{"low":61073.38,"high":null},"invalidation":54582,"window":{"from":"2026-11-07","to":"2026-11-07","likely_from":null,"likely_to":null}}],"answer":"NIFTY Bank (BANKNIFTY) Elliott Wave count at the Nov 6, 2026 close (price 59,086): the called count is primary ((5)) of cycle V under way from 49,954.85. It is invalid below 49,954.85. On the daily chart, intermediate (3) of ((5)) up from ₹52,783.45 (2026-05-18), targeting 60,709.66 (invalid below 52,783.45).","markdown":"https://elliottwaveatlas.com/markets/banknifty.md","history":[{"date":"2026-11-06","price":59086,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-11-05","price":57773.65,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-11-04","price":55913.6,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-11-03","price":55540.05,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-11-02","price":55002.2,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-30","price":54686.95,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-29","price":54909.65,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-28","price":54267.4,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-27","price":53974.9,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-26","price":54366.7,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-23","price":54287.35,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-22","price":54925.7,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-21","price":54976.9,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-19","price":55488.1,"status":"held","headline":"primary ((5)) of cycle V under way from 49,954.85"},{"date":"2026-10-16","price":55844,"status":"new","headline":"primary ((5)) of cycle V under way from 49,954.85"}],"disclaimer":"Educational and informational only. Not investment advice. Elliott Wave counts are probabilistic scenarios and can be wrong."}