Banknifty can have two possible scenarios. It is in correction of 5 wave while in 4 of 5.
4 looks completed and we are in last leg then temporary pause of fall expected.
Red : most likely scenerio. Below 50300 we are short for impulse down 💰💰
Green: less likely but we are still in wave 4 it will tests our patience should move very slow up towards 50900-51000....
Based on elliott wave forecasting on hourly chart we are in either wave iv or v of y of wxy correction. Which gives two possible scenarios as given in chart
Green : we are wave iv with a and b completed and c can continue in future. Possible trade given in green box.
Red: we are wave iii of iv and go like red arrow, trade given in red box.
This is for...
