In the previous banknifty idea we saw a breakdown and the next key level was 23531. Recently it was close to touch this level and moved up. Now, if holds this level we can see 24220 and holding above it we can witness 24600 and 24813 again. If breaks 24220 and sustains below it, the next support could be 23230 and 22981 levels.
AS suggested in previous idea, nifty50 has respected the levels till now, will 5th wave end at 12081?
12081 is crucial level and it might show healthy correction at that point, stay cautious.
Do check the previous idea. Link below
As suggested in previous idea, the rejection at 11300 level might push nifty towards 11075(gap and S2) and 10830 levels(gap and S3), but if we have a look at EW, the corrective structure has ended at 10790.20 and an impulsive move was initiated.
If Nifty holds above S1(11155) and crosses 11305(R1) we could expect R2(11450), R3(11600), R4(11754).