Bank Nifty Elliott Wave Analysis | 4H Chart Bank Nifty is currently showing signs of a corrective ABC structure after a strong impulsive rise. The market appears to be trading inside a descending corrective channel, indicating that the ongoing move is likely part of a larger Wave (B) correction. The recent price action suggests: Wave A has already completed near the 54,200 zone. Wave B retracement faced resistance around the 0.618–0.786 Fibonacci zone. The current decline may be forming Wave C of the correction. The blue corrective channel is acting as dynamic resistance, and unless Bank Nifty breaks above the upper trendline decisively, downside pressure may continue. Key Levels: Immediate Resistance: 55,400 – 55,800 Major Resistance Zone: 56,200 – 56,700 Support Zone: 53,800 – 53,200 Potential Wave C Target: 52,200 area (1.618 extension) Elliott Wave Perspective: The structure indicates a possible zigzag correction where: A = initial fall B = corrective bounce C = final downward leg If Wave C extends aggressively, Bank Nifty could test deeper support zones before the larger trend resumes. Trading View: Short-term bias remains bearish below the channel resistance. Any pullback toward Fibonacci resistance zones may offer selling opportunities. A breakout above the descending channel could invalidate the bearish structure and trigger bullish momentum. Disclaimer: This analysis is for educational purposes only and not financial advice. Please use proper risk management before taking any trades. #BankNifty #ElliottWave #TradingView #NiftyAnalysis #WaveCountPro #TechnicalAnalysis #StockMarketIndia #BankNiftyPrediction #Fibonacci #NeoWave
Bank Nifty Ready to Fall ??
