30511-30251 is support range for Bank Nifty and will consider negative only if trades below 30251.
wave 5 projection from 30374 is coming at 31145-31619 range.
If we are right at identifying pattern then Banknifty should retrace from wave (4) in 30907-30628 range without breaking above 31454.
And 30907-30628 is also support range.
NIfty And Bank Nifty Elliott wave analysis in hindi. If you are not comfortable with hindi then kindly read important points mentioned in charts.
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In Bank nifty 30min chart from 28923 wave (i), (ii), (iii) and (iv) is completed and wave (v) is started from 30328.
31049-31495 is the projection range for wave (v) and 30419-30176 is support range.
Bank nifty if trades below 30176 then only negative.
