#Banknifty on 4 hour chart seems to be doing a double three combination, as I understand from the EW theories from several sources that
Double three is a sideways combination of two corrective patterns including zigzag, flat, and triangle. When two of these corrective patterns are combined together, we get a double three.
It is possibly in last phase of its correction which seems to be triangle, any successful breakout would potentially invite upside targets as marked on the charts.